Bank of Industry (BOI) has come up with the initiative of giving out loans to Nigerians who are interested in expanding their businesses.
In this article, all you need to know about how you can apply for the Bank of Industry loan and get your desired amount will be stated.
Before we proceed, it is important to note that the purpose of this initiative is 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 already existing ones.
Applicants must own a visible business registered with CAC so as to make the loan approved faster. If you have not registered your business with CAC, do so now FG 250,000 Free New Business Names with CAC Registration Portal Is Open ~ Apply Here
Bank of Industry (BOI) has 3 Loan Categories. These categories are:
- Bio Loan
- Kadstep Loan
- NCI Fund Loan
These 3 BOI loan segments have different application methods and portals. Direct links to each of the BOI loans have been provided to enable you select with ease the category that best suits your location, personality and business.
1.) BIO Loan: if you are new to Bank of Industry, you have to create an account, through BOI official link portal before you can apply for the loan, but if you are not new to BOI you can login with your Bank of Industry login details and apply for the loan, if you have applied before you can always login to your BOI portal to check your loan Application Status.
2.) KadStep Loan: This is for those resident in Kaduna State Nigeria, and the loan is powered by Bank of Industry Nigeria, you can create an account or login to apply for Kadstep Business Loan 2020-2021,
CLICK HERE FOR KADSTEP LOAN
3.) NCI Fund Loan: The Nigerian Content Intervention Fund(NCI), is a Nigerian Content Development & Monitoring Board (NCDMB) fund managed by Bank of Industry Limited (BOI),
The Nigeria Content Intervention Fund (NIC) was set up for the following purposes:
- To increase indigenous participation in the oil and gas industry, build local capacity and competencies.
- To promote the growth and development of Nigerian Content in activities connected with sectors of the Nigerian oil and gas Industry.
- To deepen the creation of linkages to other sectors of the national economy and boost industry contributions to the growth of Nigeria’s National Gross Domestic Product.
- To address persistent funding challenges that have hindered capacity and growth of local service providers in oil and gas.
- To facilitate the growth of community based companies in the upstream oil and gas sector.
- To spur productivity and job creation in the Oil and Gas Industry.
- To attract investment capital into the sector and boost contribution of the sector to Nigeria’s economic growth.