The BOI Guaranteed Loans for Women (GLOW) programme provides a ₦10 billion loan fund aimed at women‑owned or women‑led businesses in Nigeria. The Bank of Industry supplies the capital while the Nigeria Credit Guarantee Company backs 25 % of each loan, meaning lenders require less collateral than with standard BOI products. Interest is fixed at 7 % per annum and the fund covers manufacturing, ICT, e‑commerce, creative industries, healthcare, education, renewable energy and waste management. It is open to registered companies that have moved beyond the start‑up phase, can demonstrate commercial viability and have a credible business plan with supporting financial records.
The most critical factor for a successful application is the quality of your business plan and financial documentation. Lenders will focus on your ability to repay rather than the size of your collateral, so clear, realistic projections and verifiable performance data are essential. Ensure every required document is uploaded in the correct format and keep your reference number handy for follow‑up.
Key facts
- Provider: Bank of Industry (BOI) with Nigeria Credit Guarantee Company (NCGC)
- Who it is for: Nigeria
- Status: Open (rolling)
Who can apply
- Woman who owns or leads a registered business (CAC registration required)
- Business operating in manufacturing, ICT, e-commerce, creative industries, healthcare, education, renewable energy, or waste management
- Business at growth stage with proven commercial viability
- Business with a credible business plan and supporting financial documents
Who cannot apply
- Businesses not registered with the Corporate Affairs Commission (CAC)
- Sole traders or businesses without formal registration
- Businesses in sectors outside the priority list
Documents you will need
- CAC business registration certificate
- Business plan with financial projections
- Bank statements (usually 6–12 months)
- Tax clearance certificate or tax identification number (TIN)
- Personal identification (national ID, driver's licence, passport)
- Proof of business address
- Details of fixed assets or proposed collateral
- Financial statements or records (if available)
How to apply, step by step
- Visit the iProgrammes portal on Bank of Industry's website and navigate to the Guaranteed Loans for Women (GLOW) section
- Create an account and log in to the application portal
- Complete the application form with details of your business, ownership structure, sector, and growth plans
- Upload all required documents in PDF or image format
- Submit your application and note your reference number for tracking
- Monitor your application status through the portal; BOI or a partner bank will contact you for interviews or additional information
How applications are assessed
Applications are assessed on commercial viability, growth potential, sector fit, and quality of your business plan and supporting documents. The 25% credit guarantee from NCGC means lenders focus less on collateral and more on your ability to repay. After approval, you will be matched with a participating bank to finalise loan terms and disburse funds. Processing timelines are not published; contact BOI directly for expected wait times.
Tips to improve your chances
- Show at least 12 months of verified business performance (bank statements, sales records, customer invoices) if your business is already trading
- Present a detailed business plan that explains how you will use the loan and why your business will grow
- Be clear about your role: are you the owner, co-owner, or executive leader. Women-led means the business is directed by a woman, not necessarily wholly owned by women
- Document any fixed assets (equipment, property, inventory) you can offer as collateral; lighter collateral is an advantage of this fund, but having something strengthens your case
- Include realistic financial projections and evidence that you understand your market and can compete
Common mistakes to avoid
- Submitting incomplete financial records – provide 12 months of bank statements, sales invoices and any audited statements to prove cash flow.
- Confusing ownership with leadership – clearly state whether you are the owner, co‑owner or executive leader; the programme accepts women‑led firms even if ownership is shared.
- Leaving the collateral section blank – even though the guarantee reduces collateral needs, listing any assets you can pledge strengthens your case.
- Uploading documents in the wrong format – use PDF or clear image files as required; unreadable files cause delays.
- Neglecting the business plan’s loan utilisation detail – explain precisely how the funds will be used and how they will drive growth.
Frequently asked questions
What is the loan amount I can borrow?
The programme fund is ₦10 billion total, but individual loan sizes are not stated in the published information. Contact BOI through the iProgrammes portal to discuss how much your business can borrow based on your financial need and ability to repay.
How long do I have to repay the loan?
The loan tenor (repayment period) is not stated. This is typically agreed between you and the participating bank during finalisation. Ask at the application stage or during your interview.
Is there a deadline to apply?
Applications are rolling, meaning there is no fixed closing date. However, the fund is finite (₦10 billion), so it may close once fully allocated. Apply soon to avoid missing out.
Do I need to own 100% of the business to qualify?
No. The programme accepts women-owned or women-led businesses. Women-led means a woman directs the business, even if she does not own it outright. Check your ownership documents and be clear about your role in your application.
What if my business is not in one of the listed sectors?
The programme prioritises manufacturing, ICT, e-commerce, creative, healthcare, education, renewable energy, and waste management. Businesses outside these sectors are unlikely to qualify. If you are unsure whether your sector fits, contact BOI for clarification before applying.
Before you apply
Open the BOI Guaranteed Loans for Women (GLOW) listing on GrantPilot for the verified application link and deadline reminders. Check whether you qualify in two minutes with the free eligibility checker, then run your business plan through the Readiness Score to see what a reviewer would mark down.
Information checked against the programme’s own page on 26 October 2026. Programmes change their rules, so always confirm on the official page before you submit.
An experienced reviewer reads your plan or application line by line and sends written feedback within 3 working days: what is strong, what a committee will question, and what to change. ₦40,000 per document.
Every grant, loan, investor and competition you can apply for, sorted by deadline, in one PDF.
Every Monday: new grants, loans and investors you can apply for, and the ones closing soon. Free, and you can unsubscribe any time.
Prefer a PDF? Get the free 2027 Funding Calendar
Put this into practice
Search verified opportunities, score your plan and get deadline reminders — free to start.
