For those that just following the thread, I have my contact on the 1 and 2page of the thread.

what about the animal feeds

adekusibe10:
what about the animal feeds

.

They can support you

BOI loan is different from AGMESIS or COVID 19 Loan by CBN. Pls don't get it wrong.

If you are expecting cash, BOI don't give money directly to customers to avoid diversion. They are not commercial Banks.

Nigerians are perfect in misusing opportunities and taking leniency for granted.

If you need loan from BOI and you feel you can access it yourself, why don't you go ahead and access it directly, why appointing consultant services you don't want to pay for?

A proverb says an once of experience or knowledge is better than a pound of book knowledge. Business owners; Until you begin to value knowledge, you won't stop having issues in some aspects of your business.

If you need our assistance in getting BOI loan, pls do check the first page of this thread for our contact.

Thanks

If you are into manufacturing, fashion etc and you need BOI loan for equipment financing at 10% per annum and 12.5% per annum for working capital feel free to talk to me. i can help you out. Check the first and second page of this thread for more details and contact for more enquiry.

Thanks

Good day guys, I'm here again for my update on BOI loan.

I can't say if this is a good news or bad news but is good to share this with people that are planning or intending to apply for BOI loan for Nylon and plastic recycling business. There is just a newly made policy that will stop loan approvals for that line of business(nylon and plastic recycling).

Not all recycling businesses: Metal, e-waste and Other solid waste recycling business will still fly. Just nylon and plastic will not fly. The FG is discouraging the use of plastic and nylon as they are both non biodegradable materials.

If you are in need of BOI loan for manufacturing businesses you can talk to me. Pls read details in page 1&2 of this thread for more info and my contact. Thanks

Today's update on BOI loan.

I will be talking about the BOI loan's tenor and moratorium.

Tenor is the duration that the loan amount will take or expected to be completely repaid while moratorium is a grace period. The period where only interest is expected to be paid without principal repayment. This period varies depending on the nature of the project and the source of items to be financed.

Nature of projects: Projects that has longer gestational period will take a longer moratorium period than the one that has a shorter gestational period.

Source of items to be financed: if items to be financed is imported such loan will have higher moratorium period than loans approved for locally purchased items. This is so due to time involve to bring the imported items to the country, also the time required to clear at the port, to install, commission and commence work. It will take more time than locally purchased items.

Hence, the variation in moratorium period.

i. Why is BOI loan the best for Manufacturing Company's businesses?

ii. What are the likely effects of BOI loan on those operations?

With the above issues and questions raised and my answers to those questions. I believe it will help in determining where to source for manufacturing business loan.

Commercial banks will only offer short term loan with high interest rate as high as 28%-32% of the loan amount at max 2- 3years tenor without moratorium. The implication of this is that a manufacturing company that obtain such loans will work for that commercial bank throughout the tenor of the loan unless the business can generate as high as 60% profit. Even if they made the 60% profit yearly, is still doesn't make any economic sense, the profit that could have been used for expansion or diversification into another line of business is been wasted servicing loan.

Meanwhile if you are patient enough to go through BOI loan processes and get the loan at rate of 10% per annum you could get a year moratorium or at least 6 months moratorium for your business to stabilize before you start principal repayment. This will significantly improve the financial status of the company unless the company lacks financial management.

Secondly, the company will have an improve revenue reserve which could be used for other projects.

Why not think of BOI loan today for your manufacturing business.

Pls read 1 & 2 page of this thread for more details and my contact for more info.

Thanks

jameshow:
Today's update on BOI loan.

I will be talking about the BOI loan's tenor and moratorium.

Tenor is the duration that the loan amount will take or expected to be completely repaid while moratorium is a grace period. The period where only interest is expected to be paid without principal repayment. This period varies depending on the nature of the project and the source of items to be financed.

Nature of projects: Projects that has longer gestational period will take a longer moratorium period than the one that has a shorter gestational period.

Source of items to be financed: if items to be financed is imported such loan will have higher moratorium period than loans approved for locally purchased items. This is so due to time involve to bring the imported items to the country, also the time required to clear at the port, to install, commission and commence work. It will take more time than locally purchased items.

Hence, the variation in moratorium period.

i. Why is BOI loan the best for Manufacturing Company's businesses?

ii. What are the likely effects of BOI loan on those operations?

With the above issues and questions raised and my answers to those questions. I believe it will help in determining where to source for manufacturing business loan.

Commercial banks will only offer short term loan with high interest rate as high as 28%-32% of the loan amount at max 2- 3years tenor without moratorium. The implication of this is that a manufacturing company that obtain such loans will work for that commercial bank throughout the tenor of the loan unless the business can generate as high as 60% profit. Even if they made the 60% profit yearly, is still doesn't make any economic sense, the profit that could have been used for expansion or diversification into another line of business is been wasted servicing loan.

Meanwhile if you are patient enough to go through BOI loan processes and get the loan at rate of 10% per annum you could get a year moratorium or at least 6 months moratorium for your business to stabilize before you start principal repayment. This will significantly improve the financial status of the company unless the company lacks financial management.

Secondly, the company will have an improve revenue reserve which could be used for other projects.

Why not think of BOI loan today for your manufacturing business.

Pls read 1 & 2 page of this thread for more details and my contact for more info.

Thanks

thsnks for the education,ok hopefully next year I will try working on boi loan

[quote author=Giantfarmer post=94064013] thsnks for the education,ok hopefully next year I will try working on boi loan[/quote



U welcome, just try and do as have tutored. You won't have problems when you are ready.

Also do check here for more update on the loan.

[quote author=jameshow post=94064112][/quote] ok thanks,

We just crossed the line for some of our customers today, we await you if you are interested in BOI loan. Only a serious minded people pls.

Thanks

If you need BOI fund early next year say Jan - Feb, this is d best time to apply for this loan.

Just know that it doesn't come easy but we will guide you through it all and you will enjoy your low interest rate with a longer tenor and at least 6 months moratorium.

please note

if you are applying for loan below 10m, you will have to pay 10% security deposit.

Though after approval just before disbursement as part of your collateral to secure the loan.
read more above about it under security arrangement.

Before you contact me, pls try and read what I wrote especially in page 1,2 and 4. It will help you to have some level of understanding about the whole process.

I explained explicitly in those pages, just take your time and read.

Then we can talk better.

Once I heard from Nairaland, I do assume that the caller must have read what i wrote.

It is well

Existing loan with BOI are currently enjoying 2% interest rate deduction (8% for equipment financing and 10.5% for working capital) as a means of cushioning the effect of pandemic on the economy. By march 2021, the interest rate will go back to the Bank's normal interest rate: 10% for equipment financing and 12.5% for working capital.

Read more about BOI operation from the 1st, 2nd&3rd page.

Some people thought my weekly or daily posts here is just a waste of time while to some my posts are educative,informative and directive. To me my posts is to meet people's needs and my own needs which i have achieved.

I'm here to let you know that though BOI opens for operations throughout the year but in a real sense of it, they close by NOV ending or early Dec.

For those people who have read my articles here and have it in plan to approach BOI next year, this post is for you, try and get their requirements checklist now, work on it and approach them early January.

You can contact me for a copy now then contact me in January for final packaging and submission.

But if you have already done some level of documentation, we can still submit this year.

and you will be through with the whole process latest by April.

All shall be well

A testimony time!!!!

For those who don't believe that BOI loan is obtainable, one of my customers who i submitted her application by July ending got the loan last week at 10% per annum since is a term loan(equipment financing). She is happy now.

The loan is MSME loan I.e below N10m.

like i used to say, if you need the loan and you can struggle to meet the requirements, i will guide and you will get the loan.

I wouldn't want to display much of this stuff here but for John Thomas among us see few of the items

Compliment of the season to you everyone,
I pray this year brings us all the best we all wished for. It shall be a fruitful year by God's grace.

I want to use this medium to remind you guys that 2021 BOI application submission has kicked start, the earlier you submit the better.

There will always be one challenge or the other stopping one from moving forward but it largely depends on individuals and our determination.

BOI gives term loan and working capital with at least 6 months moratorium at 10% and 12.5% interest rate P.A respectively.


You can contact me for more enquiry

Greetings to you all,

Greetings to you all,

The year is going already.

People are submitting applications to Bank of Industry now, why not give it a shot?

10% annual interest rate is the best you can get anywhere in the Country.

Many people have contacted us to make enquiry about BOI loan. Some of these people are into businesses that BOI dont support.
This set us on motion to find a suitable source of fund for the category of these people doing those businesses though at a slightly higher interest rate of 12-14% per annum rather than 10-12.5% of BOI.


If your business fall into these category or not and you need about 10m and above, you can contact us to guide& help you out.

Please note you will have to secure the loan.

Thanks

I just crossed the line for one of my clients.

The machine you are seeing below is an embroidery machine.

It makes an indelible inscription on clothes.

That machine is N3.5m

BOI is still in the business.

10% interest rate per annum is the best you can get anywhere in Nigeria.

Some financial institutions will offer you, 2%, 4% interest rate without stating it that is monthly. By the time you take the loan, you will know that it's 24%, 48% per annum respectively while that of BOI is 0.83 per month.

BOI might take 4-6months but if you meet all the requirements I can assure you, I will get it done for you and you will get the money.


This is not a scam, you can visit any BOI offices across the country for verification.

Remember, you need a guide that is where our services are required.

Another victory for us, when this man was referred to us, he was full of doubt but he made sure he corporate with us by providing the required documents.

Today, we thank God, he got his machine delivered.

Good morning guys,

To my greatest surprise a lot of people are following me on this thread than i could ever imagine.

I still give free consultation and prepare you and your firm for this loan.

If it won't be possible i tell you straight away.

BOI is still the best way of getting business done.

Compliment of the season to everyone, I pray this year shall be a fruitful year for every one of us in Jesus' name.

Since 2020, I have been doing this and by God's grace, I have enlightened a lot of people. Through my posts here, I have successfully changed the misconceptions a lot of them had about the Bank of Industry before this time. This year I will continue.

Later today, we shall be talking about the Commercial Bank Guarantee as a security arrangement to secure a loan from BOI. This is an alternative to Legal mortgage( landed properties) which could also be used for the same purpose.

The merit and demerit of BG will be discussed and if you have questions, please prepare for me. By the grace of God, I will answer all your questions satisfactorily.

Good evening everyone,

Trust you all had a wonderful day,

What I will be talking about today is BG (Bank Guarantee) to secure a BOI loan.

How does this thing work? How can you get a commercial bank to give you a BG to a BOl loan? What conditions are required? These and many more we will be talking about this evening.

There are many ways to secure a BOI loan but the prominent and acceptable means are through the pledges of Legal mortgage or a Bank Guarantee which we will be looking at this night.

Bank Guarantee simply means transferring the risk of a lender to the guaranteeing bank. A customer comes to borrow money for his/her business from BOI, he or she needs collateral to secure the loan. In order to secure this loan, the customer can approach a commercial bank that the customer uses for his daily transactions to get their guarantee to secure the loan to BOI.

The question now is that why cant the commercial bank gives the customer the loan directly? Your guess is as good as mine their interest rate is too high, far higher than what BOI would give.

How does this work?

At the beginning of every year, each commercial bank has an obligor limit allocated to them by BOI (i.e the monetary volume limit each bank can guarantee to BOI). Some banks don't use theirs at all through the year while some exhaust theirs before the 3rd quarter of every year.

The Commercial Banks that don't normally use theirs are the big guns (Access, UBA, Zenith, etc) these banks are financially stable so they dont need any serious relationship with BOI, to get BG from any of these banks you need a 5G connection. Other Banks such as Fidelity, Keystone, Wema, FCMB, Providus, etc do give.

The tip here is that you should have your company account with any of these banks that do give and make sure your fund passes through the account regularly, you will soon see the reason for this advice.

Though, you can also get a BG from any bank you dont have any relationship with, this is a topic for another day.

How to get a Commercial Bank to guarantee you.

Your company needs to have an account running with a good turnover and cash flow; the commercial bank will ask you to bring all required documents; Business plan, your company incorporation docs, a proforma invoice of what you intend to procure and the title document of the asset to be pledged. Based on above requirements submitted, the bank will carry out its own appraisal on your business, once it's found feasible, a letter of intent will be provided for the customer which can be submitted to BOI to start their own appraisal.

For more information on these, contact us.

You need below 10m or above even up to N500m, N700m and N1b to set up your plant or to procure machines for your manufacturing business feel free to talk to me. We can fix a zoom or team meeting at any time.

We are here to serve you better

I observed that some people are copying my write-ups here to post on their websites and pages. I have no problem with this, you can only copy my write-ups, you cant copy the practicality of the process. Continue copying

Please note

The BOI loan process timeline is 6months or less if all things are equal(if all your docs are intact)