@jethrolite, what did BOI tell you guys about the guarantor form? Is the receipt of properties of guarantors be provided truly?

Jethrolite:
Didn't you attend the in class training?

People should stop spreading falsehood here. There is no 50k processing charge. It is 1% of loan amount.

The guarantor stuff is not as hard as it is being made to look.

I want to focus on accessing the loan and will seldom come here henceforth.

EVERYTHING I SAID IS THE TRUTH. I AM ALREADY IN THE FINAL STAGE,PLAN APPROVED, THAT IS WHY I ADVISED ALL TO QUESTION THEM FOR A LOT OF CLARIFICATION BECAUSE WHAT THEY TOLD US IN THE IN CLASS IS NOT WHAT WE ARE SEEING NOW.

dexter1983:



EVERYTHING I SAID IS THE TRUTH. I AM ALREADY IN THE FINAL STAGE,PLAN APPROVED, THAT IS WHY I ADVISED ALL TO QUESTION THEM FOR A LOT OF CLARIFICATION BECAUSE WHAT THEY TOLD US IN THE IN CLASS IS NOT WHAT WE ARE SEEING NOW.

While I was asking the loan officer concerns you raised here other students even got pissed. Likewise the loan officer, whatever the terms I will collect the loan.

dexter1983:


i have almost completed the process, plan approved when i was told.so all should planb ahead for this.

Chief,

How long (from submission date) did it take to get your plan approved? Also did u submit online or dropped hardcopy at BOI office?

Thanks for the info

Jethrolite:
While I was asking the loan officer concerns you raised here other students even got pissed. Likewise the loan officer, whatever the terms I will collect the loan.

Ok

I can't access the online registration site to download guarantors form, please if you have the soft copy, upload here.

G

Jethrolite:
I can't access the online registration site to download guarantors form, please if you have the soft copy, upload here.

The one online is wrong form, they will give u another..go to their office..and please which state us urs?

dexter1983:
G

The one online is wrong form, they will give u another..go to their office..and please which state us urs?

I am in delta state, I can't make that trip. I was directed to their new website extention at http://www.boi.ng/yesreg and downloaded the forms there. Is it these forms you're saying is wrong?

Jethrolite:
I am in delta state, I can't make that trip. I was directed to their new website extention at http://www.boi.ng/yesreg and downloaded the forms there. Is it these forms you're saying is wrong?

THIS IS THE CORRECT ONE.

dexter1983:


THIS IS THE CORRECT ONE.

Thank you Jesus, my heart don take style cut. I already shared my guarantors form.

If your business is in the following sectors:
Construction
Entertainment
ICT
Hospitality & Tourism
Light Manufacturing

Apply for the BIG GEM Grant to get up to $50,000. The project is implemented by the Federal Ministry of Industry, Trade and Investment (FMITI) and supported by the World Bank. Apply here: https://bigportal.org.ng/

Registration closes on 15th December 2016.

shesAgem:
If your business is in the following sectors:
Construction
Entertainment
ICT
Hospitality & Tourism
Light Manufacturing

Apply for the BIG GEM Grant to get up to $50,000. The project is implemented by the Federal Ministry of Industry, Trade and Investment (FMITI) and supported by the World Bank. Apply here: https://bigportal.org.ng/

Registration closes on 15th December 2016.

Thanks for this information. Good thing the federal government did this because YES-P is a failed programme. By this time next year it will become obvious.

I would not call it a failed programme. The training we received will forever be useful and if you meet a BoI official who explains all the steps to you, you will find that things like your guarantor having minimum N5m net assets etc are really just rumours.

If you have any requirements discouraging you from applying, I would suggest booking an appointment with a Bank of Industry officer and getting clarification. That is what I did. In fact, once you are done with your market research and costing, do so before doing anything else.

The Big Gem just seemed like a bonus since it is a grant, that is why I posted it. Cheers.

shesAgem:
I would not call it a failed programme. The training we received will forever be useful and if you meet a BoI official who explains all the steps to you, you will find that things like your guarantor having minimum N5m net assets etc are really just rumours.

If you have any requirements discouraging you from applying, I would suggest booking an appointment with a Bank of Industry officer and getting clarification. That is what I did. In fact, once you are done with your market research and costing, do so before doing anything else.

The Big Gem just seemed like a bonus since it is a grant, that is why I posted it. Cheers.

my business plan is for N3.7m, do you know I can't even find one that meets the bank statement and tax clearance criteria. Especially the business men I know. Non has tax clearance. I am currently thinking of reviewing it down to N1.2m so that virtually anyone I know in government or private sector can become a guarantor.

As for saying its a failed programme, you should try visiting any group on whatsapp and Facebook and see what winners are saying. If we can't access the loan, our knowledge will eventually fade away. The federal government knows this and this is the reason I am sure BIG was introduced.

Next year just watch the turn out of applicants.

shesAgem:
If your business is in the following sectors:
Construction
Entertainment
ICT
Hospitality & Tourism
Light Manufacturing

Apply for the BIG GEM Grant to get up to $50,000. The project is implemented by the Federal Ministry of Industry, Trade and Investment (FMITI) and supported by the World Bank. Apply here: https://bigportal.org.ng/

Registration closes on 15th December 2016.

what are the needed criteria to. qualify for the grant

shesAgem:
I would not call it a failed programme. The training
The Big Gem just seemed like a bonus since it is a grant, that is why I posted it. Cheers.

I sent my loan officer a message about the tax clearance issue and he said my guarantors should provide a notarized statement of net worth. I'm back to collecting N3.7m.

@jethrolite, cool.
@ othnielejike1 the steps and requirements are on https://bigportal.org.ng/

Jethrolite:
I sent my loan officer a message about the tax clearance issue and he said my guarantors should provide a notarized statement of net worth. I'm back to collecting N3.7m.

do I need to register again on the boi website to access the forms.

Jethrolite pls can I get ur number please? Or u can as well give me a flash lemme call u 08138857721

house is so quiet. @

bibinwaka:
house is so quiet. @

I was banned when I replied to the questions directed at me on top. Ban expired yesterday.

The YES programme is a waste of time aside the training. BOI wasted many precious time.Not one person i know of have benefited across the nation since June when it started. Why? I guess many were deceived into the scheme by BOI by not revealing that one must produce two 5m guarantor who must be ready to drop the receipt of the property. They initially told us our certificate is the security but it's not true.

I know many after giving all that are now discouraged and tired of the programme due to some of these new conditions by BOI. Programme like this should be handle by Federal govt. BOI is no different from commercial bank. They are not doing any thing different.

I will just advice young entrepreneurs not to be discouraged because when they get there, they will be. I will also advice many yet to start to think through and be sure they have capacity to produce 2 guarantors who will drop the receipt of their properties. BOI will not take your certificate as security as earlier made to believe.

dexter1983:
I know many after giving all that are now discouraged and tired of the programme due to some of these new conditions by BOI. Programme like this should be handle by Federal govt. BOI is no different from commercial bank. They are not doing any thing different.

Only God can help us. It is really sad. I'm virtually stuck with getting guarantors. I said it earlier that this programme will fail. Even the FG knows this and it is the reason BIG was started. God help me though because I must collect the money.

I think you should reduce the loan amount you're requesting for. To this point, the guarantor requirement that has been asked of me are guarantors worth N3.4m each presenting a notarized statement of net worth. Nothing was said about dropping land receipt.

Jethrolite:
Only God can help us. It is really sad. I'm virtually stuck with getting guarantors. I said it earlier that this programme will fail. Even the FG knows this and it is the reason BIG was started. God help me though because I must collect the money.

I think you should reduce the loan amount you're requesting for. To this point, the guarantor requirement that has been asked of me are guarantors worth N3.4m each presenting a notarized statement of net worth. Nothing was said about dropping land receipt.

The pain is why do you have to lie about the conditions and allow thousands to come in before introducing a major condition only 2% of participants can meet. They should have made the two 5m guarantor security public from day 1.

dexter1983:


The pain is why do you have to lie about the conditions and allow thousands to come in before introducing a major condition only 2% of participants can meet. They should have made the two 5m guarantor security public from day 1.

Very true.

I have always summon courage to look beyond the down side and push on to get this loan but honestly, strength keep failing. Obviously these people know this program is heading to a brick rock if dey think 20% of participants can meet such unbelievable requirements... It pains me for d time spent and it's not even about these requirements that pushes me off... It's d fact that one is not certain of what to expect if you end up with d loan, interest rate, loan offsets, visiting business sites etc all these may very well not be as they describe during d in class training.. I suspect there are more hidden vital tricks with Boi.. For me, am taking a walk nd I won't advice any one I know to part take in this

Imagine a graduate tendering NYSC CERTIFICATE, SCHOOL CERTIFICATE, BUSINESS PLAN which was paid to make and other minor sacrifice just for 5million naira loan (not like I want upto 5m) ontop of that, I will provide guarantors with a certain networth... Never, even if I have such guarantors I will never let dem sign such.. Now wat is the difference with them providing me with d loan to this one Boi is giving.. A beg make Boi eat their loan, I no want..

@dexter...am trying not to get discourage by ur comments even though they are serious point but don't know how reliable they are. pls how long have u run ur business?...can we get ur Loan officer number...how many guarantors have you provided thus far talk more of the net worth...

Sportize:
I have always summon courage to look beyond the down side and push on to get this loan but honestly, strength keep failing. Obviously these people know this program is heading to a brick rock if dey think 20% of participants can meet such unbelievable requirements... It pains me for d time spent and it's not even about these requirements that pushes me off... It's d fact that one is not certain of what to expect if you end up with d loan, interest rate, loan offsets, visiting business sites etc all these may very well not be as they describe during d in class training.. I suspect there are more hidden vital tricks with Boi.. For me, am taking a walk nd I won't advice any one I know to part take in this

Well said.