Apply for Bank of Industry BOI FGN Special Intervention Fund Loan for MSMEs 2021 BOI Bank of Industry is dishing out Loans for MSME’s in Nigeria, this Loans from BOI will help small and medium scale Businesses in the country to function well and also to restock and move to higher, look at the negative impact of Covid-19 in Nigeria Economy you will agree with me that this loan is a well development.
FEDERAL GOVERNMENT OF NIGERIA (FGN) SPECIAL INTERVENTION FUND FOR MSMEs
The Fund is a Federal Government of Nigeria initiative to provide subsidized loans to Micro, Small and Medium Enterprises (MSME) at single digit (9% per annum) all inclusive interest rate. The Fund is also to cater for applications received from SMEDAN under the National Enterprise Development Programme (NEDEP) Scheme.
PURPOSE/RATIONALE The Fund is a Federal Government of Nigeria initiative to provide subsidized loans to SMEs at single digit (9% per annum) all inclusive interest rate. The Fund is also to cater for applications received from SMEDAN under the National Enterprise Development Programme (NEDEP) Scheme.
Economic Rationale: The Fund is aimed at stimulating economic activity in the SME sub-sector being the major drivers of industrialization, wealth and job creation.
TARGET MARKET/ CRITERIA
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The Fund can be assessed by duly registered Limited Liability Companies, Enterprises and Cooperatives in Nigeria.
Applications are received and processed at BOI State Offices. PROJECTED IMPACT The fund is to be utilized for SMEs engaged in manufacturing and agro-processing businesses with emphasis on value addition to local raw materials. PROGRAM LIMIT N5.0 billion SINGLE OBLIGOR LIMIT N20.0 million
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Interest rate: 9% per annum (all inclusive) Legal Fee (where applicable)
To be determined by the company’s cash flow in line with BOI standard practice.
MORATORIUM 6 – 12 months FUNDING
FGN MSME Fund: 100%.
DISBURSEMENT Phased disbursement in accordance with agreed milestones. REPAYMENT SOURCE From the company’s operations.
How to Apply for BOI Bank of Industry MSME’s Loan 2021
Do you need this loan for your Business is your Business registered?, you should understand that this a loan that must be paid back, it’s not free a money, if you are applying have it in Mind that you are going to pay it back. Follow this Link to Apply for BOI Loan Funding 2021 https://apply.boi.ng/
If you need information about available Loans please use the comment box below this article tell us what you want to know and we will respond to you almost immediately.
Apply for Bank of Industry BOI FGN Special Intervention Fund Loan for MSMEs 2021