Apply for Bank of Industry (BOI) Loan

May 25, 2021 Mary

How to Apply for 2021 Bank of Industry Limited (BOI) Loan

The Bank of Industry Limited (BOI) is Nigeria’s oldest, largest and most successful development financing institution. It was reconstructed in 2001 out of the Nigerian Industrial Development Bank (NIDB) Limited, which was incorporated in 1964. The bank took off in 1964 with an authorized share capital of 2 million (GBP).

The International Finance Corporation which produced its pioneer Chief Executive held 75% of its equity along with a number of domestic and foreign private investors. Although the bank’s authorized share capital was initially set at N50 billion in the wake of NIDB’s reconstruction into BOI in 2001, it has been increased to 250 billion in order to put the bank in a better position to address the nation’s rising economic profile in line with its mandate.

Following a successful institutional, operational and financial restructuring programme embarked upon in 2002, the bank has transformed into an efficient, focused and profitable institution that is well placed to effectively carry out its primary mandate of providing long term financing to the industrial sector of the Nigerian economy.

We provide access to funds for startups, SMEs, and large enterprises. And by access, we mean that we facilitate the entire process, right from pre-loan application.

The Bank of Industry Limited (BOI) aims to provide 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.