Bank of Industry (BOI) Loan Application Form Portal 2024

This step-by-step guide will provide information on the requirements and application process to successfully obtain a loan at the Bank of Industry Nigeria.

The Bank of Industry in Nigeria is a leading financial institution that provides loans to private businesses and entrepreneurs. It is a reliable source of funding for entrepreneurs looking to expand their existing businesses or start new ventures. Getting a Bank of Industry loan can be a complicated and intimidating process, but with the right guidance and information, it can be a smooth and successful experience.

A Step-by-Step Guide to Getting a Bank of Industry Loan in Nigeria

The first step in the application process for a Bank of Industry loan is to visit a Bank of Industry branch near you and request a loan application form. Once you have the application form, you can begin gathering the necessary documentation and information needed to complete the form. Once you’ve completed the application form, you can submit it to the nearest Bank of Industry branch or send it via email to: loans@bankofindustry.com.ng Depending on the type of loan being applied for, the application process can take up to three months. For business expansion loans, the application process can take up to five months.

Requirements for Successful Application

Loan Amount Above 10M

• Landed Property
• Bank Guarantee

LIST OF MANDATORY DOCUMENTS TO BE ATTACHED TO YOUR APPLICATION

• Photocopies of company’s registration documents with Corporate Affairs Commission;
• Business Plan to include detailed company company profile, Curriculum Vitae of the key Management Staff,
• Quotation(s) Proforma invoice(s) for the supply of raw materials, item(s) of Machinery and Equipment.
• Company’s recent Bank Statement(s) for a period of one (1) year (for existing business);
• Three years’ Audited Financial Accounts and most recent Management Account from BOI accredited auditors (for loans above N10million)
• Security:

Loan Amount Less than N10million

Two (2) external guarantors verifiable and acceptable to BOI who must belong to any of the following categories:

• Civil Servant (Level 8 and above) who should not be more than 53years old or not more than 28 years in service (whichever comes first;
• Bankers (not below the level of Senior Banking Officer) and must have been confirmed by current employer;
• Professionals i.e. Medical Doctors, Lawyers, Accountants, Engineers, etc;
• Staff (confirmed) of reputable Companies, International Oil Companies, Telecommunication Companies (GSM providers)
• Business Owners. Their business must be duly registered with Corporate Affairs Commission.

Loan Amount of N10million and above

• If Bank Guarantee is being pledged as security,then a letter of intent for Bank Guarantee from the Head Office of commercial bank issuing the guarantee
• If Landed Property is being pledged as security, then the following are required: Photocopy of the title document(s) to the property being pledged. This could be a Certificate of Occupancy, Registered Deed of Sublease or Registered Deed of Assignment/Conveyance. Any other document as may be required by RVSG of BOI.

Interested Candidates should Click here to Apply