jameshow:
Please note

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

Please what are the docs needed for an SME Loan for an Agribusiness/Tech startup?

donkelz:

Please what are the docs needed for an SME Loan for an Agribusiness/Tech startup?

Requirements Checklist for BOI Loan below N10m
1. Formal Application on letterhead
2. Duly completed Loan Application Form
3. Photocopy of Certificate & Form of Registration
4. Business Plan which includes detailed Profile of the Business Enterprise with Curriculum Vitae of the key Management Staff and write-up on technology/manufacturing process (es)/ Technical Partners
5. Quotation/ Proforma invoice for the supply of items of Machinery and Equipment.
6. Four (4) passport photographs and Biometrics Verification Number (BVN) of the Promoter(s) (i.e. business owner[s])
7. Means of identification of the Promoter(s) (i.e. photocopy of International Passport or Driver’s License or National Identity Card or Permanent Voter’s Card)
8. Bank Statement of the Business Enterprise for a period of one (1) year (for existing business)
9. Declaration of Outstanding Liabilities to other Banks and Individuals.
10. Security: Two external guarantors
11. If operating from a rented premises, lease agreement must have a tenor of at least one year beyond loan tenor.

Good news!!!!!
A client got his loan disbursed this month. He was lucky to be coincident with the National Industrial fund available to BOI to disburse. He got the lowest interest rate institution would ever give in Nigeria at 8%.

At first, he thought it was a mistake or typo error because at the time of approval the fund wasn't available so, the proposed rate of 10% was stated on his offer letter. When the loan was disbursed it came out with 8%. BOI explained what happened to him and he was so happy.

Naso i was paid the additional fee i didn't charge ooh out of excitement.

More referrals knocking too

You are in the manufacturing business or any other business that involves value addition and you need Bank of Industry financial support ranging from N5.0million - N1.0Billion.

I can help you out, even if you need a Bank Guarantee to secure the loan.

Though BOI has requirements that must be met, I will guide you throughout the application process and ensure you get the fund.

Check my contacts on the 2nd page of this thread.

Let's talk

With pleasure and grateful heart, I announce to you another successful work of mine through the Bank of Industry. It's a studio set up, Bank of Industry bought all the equipment to set the studio up.

6&1/2months ago, the gentleman called me that someone gave him my contact to talk to me about the BOI loan. We started the discussion, I asked him a few questions which he answered & he was ready to provide the requirements and I took it up from there.

Today, he has a well-functioning, state-of-the-art studio located in Lagos fully funded by the Bank of Industry.

The loan was disbursed the first week of April, the set up just completed.

If you are still doubting me or the Bank of the industry with undeniable proof and evidence of success stories, then you have a bad heart and nothing can convince you again

I lost ur number. Pls chat me up 09034570300

adekusibe10:
I lost ur number. Pls chat me up 09034570300

Check the 1st or 2nd page of the thread for my number

jameshow:
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.

This customer referred someone to me, the woman was full of doubt but having seen the undeniable proof and evidence from the man that referred her, she has decided to take the giant step and get her own embroidery machine. The man bought 4 heads while the woman going for 6 heads, what a bold statement she is trying to make.

Everything is set and ready for submission.

By God's grace, I can tell you all to watch out for her testimony before November ends.

Life they say is a risk. I can tell you this is a calculative risk and it's worth it.

10% interest per annum with 6 months moratorium no be beans ooo.

jameshow:


This customer referred someone to me, the woman was full of doubt but having seen the undeniable proof and evidence from the man that referred her, she has decided to take the giant step and get her own embroidery machine. The man bought 4 heads while the woman going for 6 heads, what a bold statement she is trying to make.

Everything is set and ready for submission.

By God's grace, I can tell you all to watch out for her testimony before November ends.

Life they say is a risk. I can tell you this is a calculative risk and it's worth it.

10% interest per annum with 6 months moratorium no be beans ooo.

Look, If she wants to get her own embroidery machine then I will suggest you to recommend her to buy embroidery machine from techmantion. They have a wide range of embroidery machines.

michalshawn:


Look, If she wants to get her own embroidery machine then I will suggest you to recommend her to buy embroidery machine from techmantion. They have a wide range of embroidery machines.

Well, she has already collected a proforma invoice from a supplier maybe when another client comes i can link him or her to techmantion.

You must note that BOI will ask you to supply the customer first, the customer will confirm the receipt of the machine while BOI will pay to the supplier directly after 72hrs.

Techmantion can also link its clients to us, so that we help them get the BOI loan while the money comes to Techmantion being the supplier.

It's a win win for everyone involved.

Thanks

Another loan was approved for my client on the 18th of this month.

Making 4 approved 2 disbursed this year.

Before Oct ending I should have at least 2 additional disbursements.


The target is 10 projects this year.

Bring in your project, we can still get you a disbursement this year.

I'm glad to announce to you another success on one of my applications to the Bank of Industry.

This is a Car Oven Spray Booth. The application was submitted in May here we are with the result.

And this will be my 2nd Car Oven Spray Booth i did between Nov 2021 till date.

2022 has been an amazing year for us at Titans Business Advisory Solutions. We are glad to announce to you another successful approval of one of our applications.

Surely we will meet our target for the year.

If you need our services use the number below to contact us via WhatsApp.

Thanks

Good morning everyone,

I came across this shared BOI's experience of a Nairalander on Nairaland so i decided to share my thoughts and facts about the whole issue.
https://www.nairaland.com/4371169/nairalanders-experience-bank-industry-documents.

Bank of Industry has policies that most people(customers) don't know about. These policies were coined out of experiences had/challenges faced by the bank in its earlier stages of operation.

Now, let me address the issue raised by the young man in the above link.

BOI has a processing fee that is divided into two for MSMEs; these fees are Appraisal and commitment fees which are paid after approval of the loan. It is usually 1% each making 2% of the loan amount approved. These fees are not refundable but you don't need to be afraid at this stage because if the loan won't be disbursed it won't be approved especially for MSMEs. Once it is approved it will be disbursed. However, some requirements must be met which are referred to as post-approval requirements. These requirements are usually letters the customers need to sign, others are agreements that the guarantors and the customers must sign. Then, the payment of 10 security deposit in the BOI MFB ( this you are entitled to collect back with interest after the tenor of the loan if you do not default).

All this information won't be explained to you. That's why the bank came up with consultants to help you with all this information and ensure you get the fund disbursed. A good consultant that is not after the money he will get from you would have explained in detail all the above information even before you start so that you won't get to the middle of the process and be lamenting that the Bank is fraudulent, Buhari govt is bad like the young man did in the above link.

If you have a consultant, you will know from the beginning if you should go ahead or not. You can make an informed decision from the beginning instead of going into what you wont be able to finish.

A lot of customers too-know-attitude is one of the reasons they start and can not finish. They think once they are educated that all. They will get to midway and stuck then they will start complaining.

In my next post, i will do the cost-benefit of the BOI loan as against the commercial bank loan

jameshow:
Good morning everyone,

I came across this shared BOI's experience of a Nairalander on Nairaland so i decided to share my thoughts and facts about the whole issue.
https://www.nairaland.com/4371169/nairalanders-experience-bank-industry-documents.

Bank of Industry has policies that most people(customers) don't know about. These policies were coined out of experiences had/challenges faced by the bank in its earlier stages of operation.

Now, let me address the issue raised by the young man in the above link.

BOI has a processing fee that is divided into two for MSMEs; these fees are Appraisal and commitment fees which are paid after approval of the loan. It is usually 1% each making 2% of the loan amount approved. These fees are not refundable but you don't need to be afraid at this stage because if the loan won't be disbursed it won't be approved especially for MSMEs. Once it is approved it will be disbursed. However, some requirements must be met which are referred to as post-approval requirements. These requirements are usually letters the customers need to sign, others are agreements that the guarantors and the customers must sign. Then, the payment of 10 security deposit in the BOI MFB ( this you are entitled to collect back with interest after the tenor of the loan if you do not default).

All this information won't be explained to you. That's why the bank came up with consultants to help you with all this information and ensure you get the fund disbursed. A good consultant that is not after the money he will get from you would have explained in detail all the above information even before you start so that you won't get to the middle of the process and be lamenting that the Bank is fraudulent, Buhari govt is bad like the young man did in the above link.

If you have a consultant, you will know from the beginning if you should go ahead or not. You can make an informed decision from the beginning instead of going into what you wont be able to finish.

A lot of customers too-know-attitude is one of the reasons they start and can not finish. They think once they are educated that all. They will get to midway and stuck then they will start complaining.

In my next post, i will do the cost-benefit of the BOI loan as against the commercial bank loan

Hello sir, I don't know you can help me to get N100bN loan from Boi, i have a great project idea,

ogo4god:

Hello sir, I don't know you can help me to get N100bN loan from Boi, I have a great project idea,

BOI won't give a single obligor this much, you will need the support of International financial institutions such as AfDB.

The key challenge would be the security arrangement. Another thing that could pose a challenge is the level of expertise or experience of the people who will manage the project. However, this is surmountable if the first challenge can be resolved.

And if the first challenge can not be resolved due to the size of the loan, i will advise you explicitly put the idea on the paper detailing the profitability of the project and the required cost then look for investors to invest in the idea.

Thanks for contacting us

Good afternoon everyone,

If you are a woman and you are into cosmetology and you have all the required licenses that allow you to operate in Nigeria,

You can get in touch if you need financial support from the Bank of industry.

If you are into the laundry and dry cleaning business you can also get in touch with us via our number. You stand a chance of getting support from BOI.

Compliments of the season to everyone here.

2022 was indeed a fantastic year, a lot of our applications were approved and disbursed while some are still awaiting disbursement especially those we submitted late last year.

I want to say to you that the year has started again and applications have been pouring into the Bank of Industry.

If you don't take a step now, na so the year go end for your face.

For this year, we won't be taking start-ups and business ideas that are still in pre conceptualize stages but already-established businesses that need finances for expansion or working capital. This is necessary to cut out some unserious people who are not ready for the business.

If it's for a business idea don't call me unless it's a diversification.