Bank of Industry Loan Application and Documentation Requirements

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:

Product Offering

  • Asset financing
  • Working capital

Partners

Subsidiaries

Worth of the loans

Lending Criteria:

  • 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.

Priority sector:

  • Agro-industries, textile, and leather
  • Polymer –based industries
  • Solid minerals
  • Foundries
  • Information communication technology (ICT) services

How to Apply for BOI loan:

Corporate Office:

BOI House
Plot 256, Zone A O
Off Herbert Macaulay Way
Behind Unity Bank
Central Business District
Abuja, Nigeria.
Tel: (+234) 08073990022

Email: customercare@boi.ng



Categories:Entrepreneur

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