Bank of Industry loan (BOI) application forms now available apply now! The Nigerian Senate has of recent approves collection of 0% Bank of Industry loan for people with business ideas, must be between 18-40 years apply now. Here I will talk about how you can get business loan from Bank of Industry easy and simple and 0% Bank of Industry loan requirements.
This is to inform Nigerian citizen who might be interested to start a reliable business with 0% Bank of Industry loan for his own as an individual.
About 0% Bank of Industry loan
It is now on news that Nigerian Senate has approves collection of 0% Bank of Industry loan for people with business ideas aged 18 to 40 years.
The Bank of Industry is set to create the best environment for graduate and non-graduates in Nigeria.
Recently Bank of Industry launched N11 billion empowerment programs tagged “The 0% Entrepreneurship Fund” for Nigerian Youths who are unemployed.
- Lots of benefits accompany with this 0% Entrepreneurship Fund which include:
- It will help Nigerians citizen in creating an environment for Nigerian to start their own business
- It will encourage students and traders to become employers rather than malingering around seeking for jobs
- The 0% Entrepreneurship Fund is for financial assistance of Nigerian meaningful and less risky
How you can get business loan from Bank of Industry
To get loan from Bank of Industry you must possess following under listed below
- Your business can be Small, medium and large enterprises, excluding cottage industries.
- Any New or existing companies, seeking expansion, modernization or diversification
- Clients with demonstrable ability to meet loan repayments
- To get business loan from Bank of Industry you must have no record of unpaid loans to erstwhile development finance institutions and other banks
- Any applicants with Credit worthy promoters who will be required to prove their commitment to the project by contributing at least 25% of the project cost excluding land.
- Applicants whose management capability, financial situation (including availability of collateral and guarantee), character and reputation are incontrovertible
Final steps to get Bank of Industry loan
- Passed the process of screening via https://www.boi.ng/apply/register
- Filled the Bank of Industry Loan application form
- Submitted a potential successful business plan
Requirements for to get Bank of Industry loan
- Formal letter of Application
- Photocopy of Certificate of Registration or Incorporation
- Of the Certified True Copies of Forms C02 and C07
- A photocopy of the Certified True Copy of Memorandum and Articles of Association of the Company
- Feasibility Study Report (4 copies)
- Quotations for items of equipment (at least 2 or 3 quotations from different sources), where applicable
- Three (3) years most recent Audited Accounts of the company (for existing company)
- Organizational Structure and Management of the company
- Declaration of total outstanding liabilities of the company
- Statement of Account for the past six months from the company’s bankers
- Completed copy of Bank of Industry Questionnaire
- Eight recent Passport photographs of each of the two Directors and the Company Secretary
- Acceptable Securities shall include a charge/security interest over all of applicant’s assets, copyrights, rights etc
- Three (3) years most recent Tax Clearance Certificate for the Company and two (2) Directors