BOI Intervention Funds Loan app: App download, Signup, Login, how to apply, Interest Rates, loan ussd code, customer car
The Bank of Industry (BOI) stands as Nigeria’s largest and most successful development finance institution, with roots tracing back to the Nigerian Industrial Development Bank (NIDB) Limited established in 1964. Since its reconstruction in 2001, BOI has been on a mission to transform Nigeria’s industrial sector by providing financial support to businesses across the nation, catering to both small and large establishments. This article delves into the various BOI intervention funds, shedding light on their objectives, categories, and the wealth of opportunities they present for business growth.
Core Values:
BOI operates under a set of core values, including Service, Professionalism, Passion, Integrity, Innovation, and Team Spirit, reflecting its commitment to fostering economic development through strategic financial initiatives.
Objectives of BOI Intervention Funds:
BOI’s intervention funds are divided into two categories: Matching Fund and Managed Fund.
- Matching Fund:
- BOI/State Matching Funds: In partnership with state governments, this fund supports cooperatives, limited liability companies, and enterprises in manufacturing and agro-processing, offering a maximum of N50 million with interest rates ranging between 5% to 10%.
- BOI/Dangote Foundation Matching Fund: A collaboration between BOI and the Dangote Foundation, this N5 billion fund targets companies in merchandising, manufacturing, and agro-processing, with a per-head limit of N50 million at a 5% interest rate.
- Managed Fund:
- BOI/CBN Intervention Fund: With a focus on manufacturing and restructuring facilities, this fund provides N235 billion for bank loans and N300 billion for power and airline intervention, aiming to improve credit availability to manufacturers.
- NADDC Fund: A N16.91 billion fund developed in collaboration with the National Automotive Council, aimed at SMEs in automotive parts production.
- FGN Special Intervention Fund for MSME (NEDEP): Providing subsidized loans to SMEs with a 9% per annum interest rate.
Other BOI Interventional Funds:
- Cassava Bread Fund
- Cement Fund
- Cottage Fund
- National Program on Food Security (NPFS)
- Rice and Cassava Intervention Fund
- Sugar Development Council Fund
Additional BOI Products:
Apart from intervention funds, BOI offers a range of products catering to diverse business needs, including:
- ASM Fund
- Bottom of Pyramid
- Fashion and Beauty Product
- Light Manufacturing
- Food and Agro Commodity Processing
- Graduate Entrepreneurship Fund
- Nollyfund
- On-lending to Commercial Banks
- Solar Energy
- Youth Entrepreneurship Support (YES) Programme
- Youth Ignite Programme
How to Apply for BOI Intervention Fund:
Applying for BOI intervention funds is a straightforward process. Follow these steps:
- Visit the official BOI website at https://www.boi.ng.
- Choose the fund option most relevant to your business.
- Click on the chosen option and scroll to the bottom of the page.
- Find the “Click Here to Apply” option and proceed with the application.
Conclusion:
BOI’s intervention funds open avenues for businesses to access loans and grants, fostering growth and development. By exploring the diverse range of funds and products offered by BOI, entrepreneurs can find tailored solutions to propel their businesses forward. For those seeking financial support, the BOI stands as a vital partner on the journey to success. Explore the opportunities, apply strategically, and unleash the full potential of your business with BOI.