GrantPilot does not give out this funding; Bank of Industry (BOI) does. We help you find it, check it is real and get ready to apply.
BOI offers conventional loans from ₦5m with single-digit interest rates and 5–7 year terms through an online portal. You must be a Nigerian business registered with CAC, have a BVN, and meet their credit and cash flow requirements.
MyBOI portal launched October 2, 2026, providing online access to BOI's conventional loans and non-interest financing facilities. Standard SME Loan starts at ₦5 million (no upper limit for qualifying businesses), with single-digit subsidized interest rates and repayment up to 5-7 years for qualifying projects.
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Nigerian businesses registered with Corporate Affairs Commission can apply depending on facility requirements. Applicants must have valid Bank Verification Number for owner/directors, verifiable business bank account and meet BOI's credit and cash flow requirements. For facilities above ₦10m, may need audited financial statements, management accounts, feasibility studies, tax clearance certificates, regulatory approvals and security documents.
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BOI assesses applications based on your credit history, cash flow position, and the strength of your business case. For loans above ₦10 million, the bank will require audited accounts, feasibility studies and tax clearance to verify your capacity to repay. You can track your application status in real time on the MyBOI Portal. Processing time is not stated, but you should expect contact from BOI if further information is needed.
What reviewers look for
The Standard SME Loan starts at ₦5 million. There is no upper limit for qualifying businesses.
Repayment terms run from 5 to 7 years for qualifying projects.
BOI offers single-digit subsidised interest rates. The exact rate depends on your risk profile and the facility type.
Audited financial statements are required only if you are borrowing above ₦10 million. For smaller loans, management accounts and bank statements usually suffice.
The sources do not specify a minimum trading history. Contact BOI directly via the portal or their offices to confirm eligibility for new businesses.
Guide written from the official programme page on 14 November 2026. Funders change their rules, so confirm the details on the official page before you apply.
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