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How To Apply Online For The Bank Of Industry Loan 2019

How To Apply Online For The Bank Of Industry Loan 2019
The bank of industry (BOI) is a parastatal under the Federal Ministry of Industry, Trade and Investment, with a primary objective to provide financial aids for the establishment of large, medium and small projects. 
It is a body that aids businesses by awarding loans and grants needed for their expansion, diversification, and modernization.
The Bank of Industry recently launched the “The 0% Entrepreneurship Fund” program, an ₦11 billion focused on helping unemployed Nigerian youths and promoting entrepreneurship among them. It helps achieve this by creating a favorable environment for youths interested in starting their own businesses by awarding them easily serviced loans.

Criteria and Requirements for accessing the Bank of Industry Loan

• A well written formal letter of application
• A copy of your certificate of business registration or incorporation
• A copy of your certified true copy of memorandum and articles of association of the company
• Certified forms C02 and C07
• Completed BOI questionnaire
• Organizational structure and management
• 4 copies of your feasibility report
• Declaration of outstanding liabilities
• Most recent audited accounts of the company if it had been in existence
• Tax clearance certificates
• Quotations for items or equipment, from different sources
• Passport photographs
• Acceptable Securities shall include a charge/security interest over all of the applicant’s assets, copyrights, rights, etc.

How to apply for Bank of Industry loan online – The Loan Application Portal

The online portal was created for prospective SME customers that don't want to visit any of the bank's online branches for the submission of their forms. Many applicants prefer this online submission portal because it has advantage of shortening the loan processing Turn-Around-Time (TAT) of the Bank.
In the official website, applicants will be able to upload their documents through the website file upload system.

Steps on how to use the portal:

• Visit the official website
• Click on “Apply for loan now
• Fill in the form and hit the “Register here” button
• A verification email will be sent to you, click on the link to validate your account
After that, you'll be logged in and can start completing the forms. A mail will be sent after you've successfully completed the application.

To find out more about this, you can drop a comment or visit the official website.
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