How To Apply For BOI Loans As A Business Owner
The Bank of Industry (BOI) has opened its new MyBOI Portal, allowing Nigerian businesses to apply for financing facilities online.
The portal, which went live on Friday, enables new and existing customers to register, complete their business profiles, submit financing applications and supporting documents, and track the progress of their applications online.
The bank said the platform was designed to simplify access to its financing facilities and improve the turnaround time for applications.
Businesses can access the portal through the official MyBOI website at https://onlineportal.boi.ng/, while the bank has also made the platform available through its mobile application.
Who Can Apply?
Nigerian businesses registered with the Corporate Affairs Commission (CAC) can apply for BOI financing, subject to the requirements of the particular facility.
The bank’s portal states that registered businesses must have a valid Bank Verification Number (BVN) for the owner or directors, a verifiable business bank account and meet its credit and cash-flow assessment requirements.
Businesses operating in sectors such as manufacturing, agro-processing, digital economy, creative industries and energy may be eligible, depending on the financing programme.
BOI also provides facilities for different business sizes, including micro enterprises, small and medium-sized enterprises (SMEs) and large enterprises.
How To Apply For BOI Financing
- Create an account
First-time applicants are required to register on the MyBOI Portal. Applicants will need a valid company registration number, such as an RC or BN number, a valid email address and other company information to create their profile.
- Complete your business profile
After registration, log in to complete your business profile and provide details about your business operations, sector and financing needs.
- Select a financing facility
Browse the available loan facilities on the portal and choose the one that matches your business type and needs.
- Submit application and documents
Fill the application form and upload all required supporting documents as specified for the facility.
- Track your application
Use the portal dashboard to monitor the status and progress of your application online.
