SME Past Question and Answers for Auto Revamp Training Program 2021
Frequently Asked Questions in AUTO REVAMP TRAINING PROGRAM (AITP)
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SME Past Question and Answers for Auto Revamp Training Program 2021
WHAT IS AUTO REVAMP TRAINING PROGRAM (AITP) ABOUT?
The Auto Revamp Training is a hands-on intensive program that will cover core skills for Auto Refurbishment. The delivery model is structured to build and perfect skill proficiency in the Use of Power and Hand Tools, Auto Body Metal Works (Prelim & Advanced), Auto Body Preps, Auto Body Painting (Prelim & Advanced), Auto Detailing & Interior Works, Specialized Auto Body Detailing.
HOW IS AUTO REVAMP TRAINING PROGRAM STRUCTURED?
The Program is structured under the Human Capital Development Loan (HCDL) Scheme which is an innovative loan program that is intended SOLEY to provide training to individuals who are resident in Enugu State on technical and non-technical capacities in partnership with private sector firms called “anchors”. The SME Agency in partnership with the anchors will then provide access to jobs and support for your entrepreneurial ventures.
WHAT IS THE INTEREST RATE OF THIS LOAN FOR THE AUTO REVAMP TRAINING PROGRAM?
The Loan for the Training Program is INTEREST FREE/ ZERO INTEREST
WHAT IS THE DURATION FOR THE AUTO REVAMP TRAINING PROGRAM?
Eight (8) Months for the training.
WHAT IS THE COST OF THE TRAINING?
The cost the training program has been highly subsidized to N150,000.00 (One Hundred and Fifty Thousand Naira Only). From 350,000 (Three Hundred and Fifty Thousand Naira Only). This is a 57% reduction.
Enugu SME Center would be providing Human Capital Development Loans of N150,000 to the selected beneficiaries of this batch by Autoease Limited. These loans are interest free.
The loan is expected to be repaid in 12 – 15 months ( No Interest Added ) after the training.
IN HOW MANY MONTHS OF WOULD THE LOAN FOR THE TRAINING PROGRAM BE REPAID?
The repayment of the zero-interest loan will be made 12-15 months after the completion of the 8 months training.
MUST I BE RESIDENT IN ENUGU STATE?
Yes, for the effectiveness of the Program, it is required that all Participants must be resident in Enugu State.
Do I get Paid During the Period of the Training?
No, only after you have been absorbed in the workforce. However, your employment is subject to a successful completion of the training program.
WOULD I BE REQUIRED TO ATTEND ALL TRAINING SESSION?
Yes, as this would be one of the criteria to be retained for employment
WHERE WOULD THE TRAINING SESSIONS BE HELD?
The Training sessions would be held at Autoease Limited – 22 Umuleri Street Behind MTN, Zik Ave, Enugu
Is an Undergraduate Eligible for the Training Program?
Yes, but must be prepared for the rigours of the intensive training.
CAN AN INDIVIDUAL WHO IS CURRENTLY EMPLOYED ALSO ENGAGE IN THE TRAINING PROGRAM
Yes, but must plan adequately.
IS THERE AN ARRANGEMENT FOR ACCOMMODATION
Considering that the Training Cost is highly subsidized, there will be NO provision for accommodation.
WHAT ARE THE REQUIREMENTS TO GET AITP HCDL
The successful applicant would be mandated to bring the following:
- Nationally Recognized Identification of the Applicant and Three(3) passport photograph
- Kindly select one Guarantor from the following areas:
- Private Sector Individual- Businessman/Businesswoman, entrepreneur, private sector employee
- Public Servant (Federal Government MDA, State Government from Executive Assistant-Honorable Commissioner)- retired within two (2) years also acceptable
- Civil Servant from Level 6-Permanent Secretary- retired within two (2) years also acceptable
- Requirements of the Guarantor:
- Nationally Recognized Identification of the Applicant and two(2) passport photographs
- Undated Cheque from CBN recognized Commercial Bank.
- Six Months bank account Statement.
WHAT IF I WANT TO PAY THE DISCOUNTED RATE UPFRONT?
Yes, you can, the payment will be accepted, hence no need for the loan.
WHAT IF I CAN PAY FOR THE AITP HCDL
Click this link for self-guaranteeing steps.
WHAT IF I ONLY HAVE A SAVINGS ACCOUNT
Request to open a current account with your Bank and request for a cheque book (minimum amount of leaves). When coming to the office to complete you documentation, make sure you come with 3-6 months of your saving account statement. You should also notify the Agency that you have requested for a cheque book so your space can be reserved
WHAT IF I DECIDED TO NOT CONTINUE THE AITP PROGRAM, WHAT WILL HAPPEN?
If you have successfully passed the rigorous selection phase and are chosen for the first cohort and you drop out of the program, it would have been determined you have DEFAULTED on the AITP HCDL and the default terms would kick in as detailed in the Offer Letter, which would include calling on the collateral (the cheque of the guarantor/or applicant). If you paid for the AITP Program upfront, it shall not be refunded
WHY THE NEED OF A CHEQUE AS A COLLATERAL
This is the only way for Financial Institutions to legally recover their monies in the event of a default. This must be presented physically and cannot be scanned as it is not valid If scanned.
WHY MUST MY GUARANTOR BE AVAILABLE FOR THE DOCUMENTATION SIGNING?
The guarantor would be expected to cosign with the successful AITP Applicant and is also expected to be physically sighted by the Agency to prevent any case of false claims, forgery of documentation and signature etc.
ONCE WE HAVE MET ALL THE REQUIREMENTS, WHERE & WHEN SHOULD WE COME TO TO COMPLETE OUR DOCUMENTATION, WITH OUR GUARRANTOR
We shall commence documentation signing on Friday, 28th August 2020 till Friday 11th September 2020. Kindly notify the Enugu SME Center 24-hrs before coming to the Agency (with guarantor if using guarantor) to ensure your documents are prepared ahead of time. Based on this we shall communicate the new date for the commencement of the training.
CAN A GUARANTOR WITH A JOINT ACCOUNT / CHEQUE BOOK GUARANTEE SOMEONE?
No!!! It is a personal guarantee not a joint guarantee.
CAN A GUARANTOR WITH A CORPRATE ACCOUNT / CHEQUE BOOK GUARANTEE SOMEONE?
No!!! It is a personal guarantee not a joint guarantee.
Auto Revamp Training Successful Shortlisted Applicant 2021/22
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SME Past Question and Answers for Auto Revamp Training Program 2021
If sending your 24hrs notification by email, send to info@enugusme.ng. Ensure you write your name and “AITP Applicant” as the subject heading of the email.
Kindly drop your comment in the comment box bellow for assistance & clarification.
