Bank of Industry (BOI) is Nigerian Financial Corporation that provides access to funds for startups, SMEs, and large enterprises. It facilitates the entire process, right from pre-loan application thereby providing financial assistance for the establishment of large, medium, and small projects as well as the expansion, diversification and modernisation of existing enterprises, and rehabilitation of existing ones. The equity of BOI is provided by a number of domestic and foreign private investors.
Target markets and Documentation Requirements:
- Asset financing
- Working capital
- Federal Ministry of Industry Trade and Investment
- Ministry of Finance
- Central Bank of Nigeria
- Dangote Foundation
- BOI Investment and Trust Company Limited (BOI-ITC)
- BIO Microfinance Bank
- BIO Insurance Broker LTD
- LECON Financial Services LTD
Worth of the loans
- Enterprise: up to 10 million naira
- Limited liability company: up to 10 million naira
- Large enterprise & SME: above 10 million naira
- Cooperative society: up to 10 million naira
- Capacity to substantially add to industrial output.
- Projects that use largely domestic raw materials.
- Industry in which Nigeria’s comparative advantages could be converted to competitive ones.
- Ability to promote the expansion of exports through the production of high-quality products that are attractive to domestic and export markets.
- Niche projects that produce for worldwide consumption.
- Projects that create both forward and backwards linkages, with the rest of the domestic or regional economy.
- Ventures that promote inter-state or regional integration.
- Small and medium enterprises (SMEs) that have linkage with large firms, belong to clusters and operate under franchise.
- Enterprises with high employment generation capacity.
- The project must be technically feasible, commercially viable and economically desirable.
- Projects that are environmentally friendly.
- Enterprises that have good management set-up and proper accounting procedures.
- Enterprises promoted by women entrepreneurs.
- Agro-industries, textile, and leather
- Polymer –based industries
- Solid minerals
- Information communication technology (ICT) services
How to Apply for BOI loan:
- If you wish to apply for BOI Loan, complete application online
Plot 256, Zone A O
Off Herbert Macaulay Way
Behind Unity Bank
Central Business District
Tel: (+234) 08073990022