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How to Apply For Bank of Industry Loan 2021- Simple Guide

Are you searching for how to access the latest Bank Of Industry /Central Bank of Nigeria (CBN) loan scheme for 2021?

In this post, I will be taking you on step by step guide how to get to the Bank Of Industry loan application form online, get detailed information on requirements for obtaining business loan from BOI.

How to Apply For Bank of Industry Loan 2021


Simple Guide Step by Step Guide To Access BOI Loan


These Guidelines relate to the N235 billion intervention fund for re-financing and restructuring of banks’ loans to the manufacturing sector (The Fund).

Objectives of the Bank of Industry (BOI) Loan 2021

Fast-track the development of the manufacturing sector of the Nigerian economy by improving access to credit to manufacturers.
Improve the financial position of the Deposit Money Banks (DMBs).

Increase output, generate employment, diversify the revenue base, increase foreign exchange earnings and provide inputs for the industrial sector on a sustainable basis.

The 2021 Bank of Industry loan application is now open for registration. In this article, you will get vital information regarding the Bank of Industry, BOI Loan application form portal and how to apply.

Everything you need to know about the BOI loan is here. Pay close attention to every detail on this page. Continue reading for more information.

About Bank of Industry (BOI) Loan 2021

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.


Bank of Industry (BOI) Loan 2021 Application Form Portal.
The Bank of Industry (BOI) was established by the Federal Government of Nigeria with the mandate of providing financial assistance (Loan) 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 in the country.

Bank of Industry Loan 2021 Target

The Bank of Industry targets businesses that engage in manufacturing and processing activities. Target sub-sectors include Agro-processing, Solid Minerals, Information Technology, Oil and Gas and Creative Industry. Businesses in these categories are accord priority.

2. Entities that BOI Finances
Bank of industry only finances enterprises or companies and not an individual person or group of persons. The company / enterprise must be duly registered and you will be required to provide the registration number for a Limited Liability Company or business name for an enterprise before you can proceed with your application.

3. Items that BOI can finance
The bank is principally set up to finance industrial equipment used in manufacturing. The Bank does not finance land and building which are expected to be financed from equity.

4. Mode of disbursement
The bank does not disburse the loan to the borrower in cash but to the vendors and suppliers of the equipment that the loan application is for.

5. Amount that can be financed by BOI
BOI’s loan support to the SME starts from N5 million. However, loan below N5 million is provided on BOI matching fund platform which is operated in collaboration with various state governments and on our Bottom of the Pyramid (BOP) scheme which is operated through MicroFinance Banks.

6. Collateral requirements
As part of the fiduciary responsibility in managing funds under its care, Bank of industry requires that you pledge some assets to secure you loan. However, the Bank also accepts other forms of security subject to adequate coverage of the loan being provided to you. Types of security the Bank accepts include:

Legal mortgage on a landed property. The property must be duly registered with a Certificate of Occupancy
Debenture on assets of the company
Bank Guarantee
External Guarantors with Notarized statement of Networth for loans below N10 million.


Please note that the Bank is willing to share assets previously pledged to other lenders provided the Bank’s loan is adequately covered in the arrangement. Also note that the Bank is willing to accept third party collateral.

7. Startup businesses
While the Bank under its general risk acceptance criteria requires a prospective borrower to have at least three years acceptable performance track record, it can also lend to start-ups at its discretion and on a case-by-case basis.

A startup would need to provide proof of cognate experience in its business area and would need to have a highly qualified management and operational team with sound management structure.

8. You need to support your application with some documents
See the list of the documents you should be prepared to upload while you are applying for loan with Bank of Industry.


Requirements for Bank of Industry (BOI) Loan 2021

Formal Letter of Application
Photocopy of Certificate of Registration
Constitution and Bye-laws of Cooperative Society (only for Cooperative Societies)
Business Plan
Four (4) passport photographs of the Promoter (business owner)
Photocopy of the Current Tax Clearance Certificate of the Business Enterprise and the Promoter.

Photocopy of International Passport or Driver’s License or National Identity Card of the Promoter.

Bank Statement of the Business Enterprise for a period of one (1) year (for an existing business).

Sales record for six (6) months and operating expenses.
Evidence of availability of Collateral Security (e.g. landed property, Individual Guarantor, etc.).
BOI/CBN Loan 2021 Application Requirements for SME/Large Enterprise.
Formal Letter of Application

Photocopies of Certificate of Incorporation and Certified True Copy of Memorandum and Articles of Association of the Company.

Photocopies of the Certified True Copy of Forms C02 and C07.
Business Plan.

Photocopy of title documents to project site (Statutory Certificate of Occupancy or Deed of Assignment).

Photocopy of Title Documents (Statutory Certificate of Occupancy or Deed of Assignment) to the Collateral Security. (This must be a landed property in an urban center).
Approved Building Plan (If new building).

Bill of Quantities or Contractor’s Estimate of Cost to be incurred on Factory Building.

Valuation Reports on Factory Building(s) (for existing projects) and property offered as Collateral Security.
Quotations for items of plant and machinery (at least 3 quotations from different sources).

Three (3) years most recent Audited Accounts of the company (for existing company).
Three (3) years most recent Tax Clearance Certificate for the Company and two (2) Directors.
Four (4) recent passport photographs of each of the two Directors and the Company Secretary.
Evidence of appointment of a Company


Apply For Bank of Industry Loan Here

How To Apply Bank of Industry (BOI) Loan 2021 – To access Bank of Industry loan 2021 see link below

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