The Bank Of Industry (BOI) facilitating the growth & development of Small and Medium Enterprises (SMEs) by giving flexible loans over a payable period of time. On this page we will be providing you with more details about the loan and how you can also apply for the loan on the official online portal.
Overview
The Small and Medium Enterprises Directorate has a focus on developing sustainable SME Business Models that will assist to unlock the inherent potential of the SME sector to improve SMEs’ contribution to national economic growth, job creation, resource endowment value chain development, skills and entrepreneurial development poverty alleviation, exports expansion, import substitution and overall GDP growth.
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Benefits
- Our loan terms are concessionary and provided to ensure the greatest levels of success for our beneficiaries.
- The Bank offers extended repayment periods to give businesses ample time to repay loans and minimize default.
- We offer sector-specific loans which are tailored to the unique needs of micro-enterprises, SMEs operating along those value chains.
- Apart from financing, we create and leverage our partnerships with other stakeholders to provide capacity building opportunities for improved business performance as businesses also require entrepreneurship and management skills to succeed.
- The Bank delivers strategic support and financing to the disadvantaged and vulnerable segments within the grassroots that are typically underserved but critical to economic prosperity.
Application Requirement
We take advantage of our knowledge of the business environment and footprint across 30 Business Offices, spread across the six geopolitical zones including the FCT, to offer SMEs loans with longer tenors (3-5 years) than are generally available and offered at below market rates; along with a moratorium period of 3-12 months.
These facilities are provided to duly registered business entities operating along the value chains of the various sectors with high potentials for entrepreneurship development, employment generation and skills acquisition.
Our lending products are tailored to meet the financing needs of SMEs in the short, medium to long term and are delivered in 4 ways:
Visit the official portal to begin application: