Bank of Industry Business Loan Application Portal Open | How to Apply for Bank of Industry (BOI) Loan – All you need to Know

Bank of Industry Business Loans


About BOI

We provide access to funds for startups, SMEs, and large enterprises. And by access, we mean that we facilitate the entire process, right from pre-loan application.

BOI: Providing financial assistance for the establishment of large, medium and small projects as well as the expansion, diversification and modernisation of existing enterprises; and rehabilitation of existing ones.


Here, you will get the latest update and information on how to apply for the Bank of Industry (BOI) Loan and get your desired amount Successfully.


it is important to note that the purpose of this initiative is to provide financial assistance for the establishment of large, medium and small projects as well as the expansion, diversification and modernisation of existing enterprises; and rehabilitation of already existing ones.


Applicants must own a visible business registered with CAC so as to make the loan approved faster.  If you have not registered your business with CAC.

Bank of Industry (BOI) has 3 Loan Categories, namely;

  1. Bio Loan
  2. Kadstep Loan
  3. NCI Fund Loan


The Bank Of Industry  BOI loans have categories and each category has different methods of application and portals. Direct links to each of the BOI loans have been provided to enable you select with ease the category that best suits your location, personality and business.


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Bank of Industry Business Loans Application Form Portal

1. The Nigerian
Content Intervention Fund

NCI Fund Loan: 

The Nigerian Content Intervention (NCI) Fund is a Nigerian Content Development & Monitoring Board (NCDMB) fund managed by Bank of Industry Limited (BOI). The fund is designed to achieve the following strategic objectives:


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  1. To increase indigenous participation in the oil and gas industry, build local capacity and competencies.
  2. To promote the growth and development of Nigerian Content in activities connected with sectors of the Nigerian oil and gas Industry.
  3. To deepen the creation of linkages to other sectors of the national economy and boost industry contributions to the growth of Nigeria’s National Gross Domestic Product.
  4. To address persistent funding challenges that have hindered capacity and growth of local service providers in oil and gas.
  5. To facilitate the growth of community based companies in the upstream oil and gas sector.
  6. To spur productivity and job creation in the Oil and Gas Industry.
  7. To attract investment capital into the sector and boost contribution of the sector to Nigeria’s economic growth.



2. KadStep Loan: 

This is for those resident in Kaduna State Nigeria, and the loan is powered by Bank of Industry Nigeria, you can create an account or login to apply for Kadstep Business Loan 2020-2021,

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3. BIO Loan:

If you are new to Bank of Industry, you have to create an account, through BOI official link portal before you can apply for the loan, but if you are not new to BOI you can login with your Bank of Industry login details and apply for the loan, if you have applied before  you can always login to your BOI portal to check your loan Application Status.




How to Apply for Bank of Industry (BOI) Loan – What you need to Know



The Bank of Industry (BOI) was established by the Federal Government of Nigeria with the mandate of providing financial assistance (Loan) for the establishment of large, medium and small projects as well as the expansion, diversification and modernisation of existing enterprises; and rehabilitation of existing ones in the country.

1. Scope
The Bank of Industry targets businesses that engage in manufacturing and processing activities. Target sub-sectors include Agro-processing, Solid Minerals, Information Technology, Oil and Gas and Creative Industry. Businesses in these categories are accord priority.


2. Entities that BOI Finances
Bank of industry only finances enterprises or companies and not an individual person or group of persons. The company / enterprise must be duly registered and you will be required to provide the registration number for a Limited Liability Company or business name for an enterprise before you can proceed with your application.

3. Items that BOI can finance
The bank is principally set up to finance industrial equipment used in manufacturing. The Bank does not finance land and building which are expected to be financed from equity.

4. Mode of disbursement
The bank does not disburse the loan to the borrower in cash but to the vendors and suppliers of the equipment that the loan application is for.

5. Amount that can be financed by BOI

BOI’s loan support to the SME starts from N5 million. However, loan below N5 million is provided on BOI matching fund platform which is operated in collaboration with various state governments and on our Bottom of the Pyramid (BOP) scheme which is operated through MicroFinance Banks.


6. Collateral requirements

As part of the fiduciary responsibility in managing funds under its care, Bank of industry requires that you pledge some assets to secure you loan. However, the Bank also accepts other forms of security subject to adequate coverage of the loan being provided to you. Types of security the Bank accepts include:

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Legal mortgage on a landed property. The property must be duly registered with a Certificate of Occupancy

Debenture on assets of the company

Bank Guarantee

External Guarantors with Notarized statement of Networth for loans below N10 million.

Please note that the Bank is willing to share assets previously pledged to other lenders provided the Bank’s loan is adequately covered in the arrangement. Also note that the Bank is willing to accept third party collateral.


7. Startup businesses

While the Bank under its general risk acceptance criteria requires a prospective borrower to have at least three years acceptable performance track record, it can also lend to start-ups at its discretion and on a case-by-case basis. A startup would need to provide proof of cognate experience in its business area and would need to have a highly qualified management and operational team with sound management structure.


8. You need to support your application with some documents
See the list of the documents you should be prepared to upload while you are applying for loan with Bank of Industry.

1. Formal Letter of Application
2. Photocopy of Certificate of Registration
3. Constitution and Bye-laws of Cooperative Society (only for Cooperative Societies)
4. Business Plan
5. Four (4) passport photographs of the Promoter (business owner)
6. Photocopy of the Current Tax Clearance Certificate of the Business Enterprise and the Promoter.
7. Photocopy of International Passport or Driver’s License or National Identity Card of the Promoter.
8. Bank Statement of the Business Enterprise for a period of one (1) year (for an existing business).
9. Sales record for six (6) months and operating expenses.
10. Evidence of availability of Collateral Security (e.g. landed property, Individual Guarantor, etc.).


1. Formal Letter of Application
2. Photocopies of Certificate of Incorporation and Certified True Copy of Memorandum and Articles of Association of the Company.
3. Photocopies of the Certified True Copy of Forms C02 and C07.
4. Business Plan.
5. Photocopy of title documents to project site (Statutory Certificate of Occupancy or Deed of Assignment).
6. Photocopy of Title Documents (Statutory Certificate of Occupancy or Deed of Assignment) to the Collateral Security. (This must be a landed property in an urban center).
7. Approved Building Plan (If new building).
8. Bill of Quantities or Contractor’s Estimate of Cost to be incurred on Factory Building.
9. Valuation Reports on Factory Building(s) (for existing projects) and property offered as Collateral Security.
10. Quotations for items of plant and machinery (at least 3 quotations from different sources).
11. Three (3) years most recent Audited Accounts of the company (for existing company).
12. Three (3) years most recent Tax Clearance Certificate for the Company and two (2) Directors.
13. Four (4) recent passport photographs of each of the two Directors and the Company Secretary.
14. Evidence of appointment of a Company

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a) Visit the website at
b) Scroll down to registration and provide a ‘YES or NO’ answer to question of whether your business is registered or not.
c) If YES you will proceed, go ahead and fill the form and click the “Register” button



BOI will not ask for your secret bank details (PIN or OTP) before you can process any loan application. They will not ask you to pay any form of fee in any stage of the application.

The RECRUITMENT TABLE will keep you up to date with information about BOI loans and other Government loans. Always check on our site for updates


Important Notes

  • The above statements are intended to describe the general nature and level of work to be performed by people assigned to this job.
    They are not to be construed as an exhaustive list of all responsibilities, duties and skills required of personnel so classified.
    All personnel may be required to perform other responsibilities in addition to those specified from time to time, as needed
    • We do not charge any application, processing, training, interviewing, testing or other fee in connection with the application or recruitment process. Should you receive a solicitation for the payment of a fee, please disregard it. Furthermore, please note that emblems, logos, names and addresses are easily copied and reproduced. Therefore, you are advised to apply particular care when submitting personal information on the web
    • We are an equal opportunity employer and value diversity inclusion. We do not discriminate on grounds of colour, race, nationality, religion, age, ethnic origin, disability, gender, marital status, or sexual orientation in our employment practices
    • Our people are all equally gifted in unique ways: we come from diverse traditions, personal experiences and points of view. And we want to include yours, Are you ready to inspire us with your ideas?
    • We encourage all applicants to apply and does not practice any discrimination in any recruitment process.
    • Applications submitted after the deadline will not be considered.
    • Due to the urgency of the position, we have the right to recruit a candidate who matches the required profile before the above deadline
    • Only qualified candidates will be invited for interview
Bank of Industry Business Loan Application Portal Open | How to Apply for Bank of Industry (BOI) Loan – All you need to Know
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