Cypus01:
Those from Oyo can now check. The list has been updated. And I have also received an invitation through mail.

Yea, they replied my mail and the list has been updated. 115 participants from Oyo has been added.
And i Ve also gotten the mail.
Congrats to all

i have just seen my invite for in-class training. but does it mean that once you have been invited you are qualified for the loan, just waiting to complete necessary steps to get the money?

konos:
i have just seen my invite for in-class training. but does it mean that once you have been invited you are qualified for the loan, just waiting to complete necessary steps to get the money?

I think it means that you are qualified to submit your bankable business plan and access the loan. At this point the focus should be to put together a business plan, in line with what we've learnt from AMI, that will ensure you get all the money you need to run your business.

Does anybody know if BOI will allow building of workshop or poultry pen in the business plan or rent of factory space or warehouse.

we assist in preparing your financials (which is the most important aspect of biz plan), so as to make your bix plan Bankable.Whatsapp 08053351537 for more details

all the guys that have started their in-class training should give us updates please

In class training is very interactive and interesting however the terms for accessing the loans are not too friendly for start ups I must confess. If you are a start up my advise is to start very small probably with an MVP ( minimum viable product) test the market properly and see if you have designed your product exactly how the market wants it, if not please adjust and adjust till you achieve a product-market fit. If you have adjusted to the best of your ability and still cnt attain a product-market fit, pls kindly drop the business idea. Warning: pls use a small proportion of the loan to build ur MVP say 100k out of 5m and if the MVP does nt wrk look for the 100k plus wateva interest at that time and pay back your loan. This money is nt free money, its money meant only for those who can work very hard and have the guts to take risk.

mogatti:
In class training is very interactive and interesting however the terms for accessing the loans are not too friendly for start ups I must confess. If you are a start up my advise is to start very small probably with an MVP ( minimum viable product) test the market properly and see if you have designed your product exactly how the market wants it, if not please adjust and adjust till you achieve a product-market fit. If you have adjusted to the best of your ability and still cnt attain a product-market fit, pls kindly drop the business idea. Warning: pls use a small proportion of the loan to build ur MVP say 100k out of 5m and if the MVP does nt wrk look for the 100k plus wateva interest at that time and pay back your loan. This money is nt free money, its money meant only for those who can work very hard and have the guts to take risk.

what are the terms you talk about?

I got an in class training. Royal Bird hotel, Alabama, Akure.

After getting to know boi terms and conditions.. Some folks be like " never mind I can raise the money on my own" #ako na uche

I just got to say, in class training is....AWESOME! Bye...

Jethrolite, oluwozain and friends, so this place could be this quiet nd desserted, I thought cohort 1 were only guilty of this, now reality has hit some of u in d face now the thread isn't useful any more?

I remember I kept saying follow the steps nd move smoothly, everything will fall into place nd u wouldn't need any body's input for u to get to the basis of getting ur loan, it was like cohort one were withholding stuffs from u guys,... Simply put, experience is key.
After all d questions here nd there

Sportize:
Jethrolite, oluwozain and friends, so this place could be this quiet nd desserted, I thought cohort 1 were only guilty of this, now reality has hit some of u in d face now the thread isn't useful any more?

I remember I kept saying follow the steps nd move smoothly, everything will fall into place nd u wouldn't need any body's input for u to get to the basis of getting ur loan, it was like cohort one were withholding stuffs from u guys,... Simply put, experience is key.
After all d questions here nd there

I wonder too, I am waiting to resume class training. Maybe everyone is busy writing their business plans. I'll resume class next week.

Sportize:
Jethrolite, oluwozain and friends, so this place could be this quiet nd desserted, I thought cohort 1 were only guilty of this, now reality has hit some of u in d face now the thread isn't useful any more?

I remember I kept saying follow the steps nd move smoothly, everything will fall into place nd u wouldn't need any body's input for u to get to the basis of getting ur loan, it was like cohort one were withholding stuffs from u guys,... Simply put, experience is key.
After all d questions here nd there

Maybe you are right.

I am done with the in-class training, so busy working strategically.

Please all should note that BOI loan is no joke. It's no different from commercial bank loans, after months of training,s pent time and resources, they now saying your guarantors must have a netwoth of 5m, 2 of them each. They are not helping us pls, so no one should think they are doing us a favour. I know many can't meet this condition for a young startup but why waste our time , resources on online training,inhouse without mentioning this hard post approval condition many can't meet up with. I am already in the advanced stage but there is a condition they just chipped in which they never mentioned since inception...after approval of your business plan, You must provide 2 guarantors with a networth of 5,000,000.00 Each who will sign affidavit,drop the receipt of the property before your money is released.

This is the latest, so please ask them in your in class training o because I know this will give many people serious issues.its a big problem. Let's post this on our various BOI groups on WhatsApp. I am already discouraged after getting to the final phase, how do I get 2 people worth 5m each to drop receipt of their properties?

BOI is not helping us please.

OK noted my class begin today, they all questions will be asked on Friday, so I will give feedback

dexter1983:
Please all should note that BOI loan is no joke. I am already in the advanced stage but there is a condition they just chipped in which they never mentioned since inception...after approval of your business plan, You must provide 2 guarantors with a networth of 5,000,000.00 Each who will sign affidavit,drop the receipt of the property before your money is released.

This is the latest, so please ask them in your in class training o because I know this will give many people serious issues.its a big problem

This is rubbish na, what if I am not asking for N5m?

Jethrolite:
This is rubbish na, what if I am not asking for N5m?

Any amount.its d truth

dexter1983:

Any amount.its d truth

I will ask on Friday.

dexter1983:
Please all should note that BOI loan is no joke. It's no different from commercial bank loans, after months of training,s pent time and resources, they now saying your guarantors must have a netwoth of 5m, 2 of them each. They are not helping us pls, so no one should think they are doing us a favour. I know many can't meet this condition for a young startup but why waste our time , resources on online training,inhouse without mentioning this hard post approval condition many can't meet up with. I am already in the advanced stage but there is a condition they just chipped in which they never mentioned since inception...after approval of your business plan, You must provide 2 guarantors with a networth of 5,000,000.00 Each who will sign affidavit,drop the receipt of the property before your money is released.

This is the latest, so please ask them in your in class training o because I know this will give many people serious issues.its a big problem. Let's post this on our various BOI groups on WhatsApp. I am already discouraged after getting to the final phase, how do I get 2 people worth 5m each to drop receipt of their properties?

BOI is not helping us please.

sorry but i got to ask, where did yo this u get your information and how credible is this source? please dont be offended i am asking these questions.

konos:


sorry but i got to ask, where did yo this u get your information and how credible is this source? please dont be offended i am asking these questions.

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

dexter1983:


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

did dey say anything abt equity
t

gspace1960:


did dey say anything abt equity
t

50k processing fee

dexter1983:


50k processing fee

BOI is asking for 50k processing fee?

dexter1983:


50k processing fee

How did they decide your loan tenure. You know they said it's from 3-5 years. 5 years would be ideal, but how does one get that?

WORLDPEACE:

How did they decide your loan tenure. You know they said it's from 3-5 years. 5 years would be ideal, but how does one get that?

Jethrolite

WORLDPEACE:

Jethrolite

Hello?

Jethrolite:
Hello?

I was throwing the same question I asked to you to know if you know anything about it:

How does the decide your loan tenure. You know they said it's from 3-5 years. 5 years would be ideal, but how does one get that?

WORLDPEACE:

I was throwing the same question I asked to you to know if you know anything about it:

How does the decide your loan tenure. You know they said it's from 3-5 years. 5 years would be ideal, but how does one get that?

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.