The BOI Loans via MyBOI Portal give registered Nigerian businesses access to conventional loans and non‑interest financing across manufacturing, agro‑processing, creative, ICT and services. The portal, live since 2 October 2026, streamlines the whole process – from KYC verification to document upload – and replaces the old paper‑based system. BOI advertises single‑digit interest rates for its MSME products and also runs the N75 bn FGN/BOI MSME Intervention Fund, though specific rates for that fund are not published.
The programme is aimed at growth‑stage firms that already have a CAC registration number, a valid email and can provide BVN, NIN, ID and proof of address. The single most important thing to get right is your CAC records; they must be current and fully compliant, otherwise the application will be rejected before any financial assessment takes place.
Key facts
- Provider: Bank of Industry (BOI)
- Who it is for: Nigeria
- Status: Open (rolling)
Who can apply
- Registered business with RC or BN number
- Business in growth stage
- Operating in manufacturing, agro-processing, creative industries, ICT or services
- Applicant with valid email and complete company information
- Business owner able to provide BVN, NIN, valid ID and proof of address
- Applicant meeting the specific criteria of the chosen loan facility
Who cannot apply
- Unregistered or informal businesses
- Businesses that do not meet the chosen facility's specific requirements
Documents you will need
- BVN (Bank Verification Number)
- NIN (National Identification Number)
- Valid ID
- Proof of address
- CAC records
- Financial statements
- Bank statements
- Business plan
- Collateral details
How to apply, step by step
- Visit the MyBOI Portal (went live 2 October 2026)
- Create or log into your account using your email and company information
- Complete KYC verification with your BVN, NIN, ID and proof of address
- Select the loan facility that matches your business needs
- Upload required documents: CAC records, financial statements, bank statements, business plan and collateral details
- Submit your application through the portal
How applications are assessed
BOI assesses applications based on your business registration status, financial health, business plan quality and ability to meet the chosen facility's criteria. The portal standardises the application process, replacing the previous paper-based system. Processing time and approval notification method are not stated; contact BOI directly for timelines on your chosen facility.
Tips to improve your chances
- Ensure your CAC records are current and fully compliant; this is a non-negotiable requirement
- Provide clear, recent financial statements (usually 2–3 years) showing consistent cash flow
- If applying for MSME products, emphasise your business stage and growth trajectory; BOI advertises single-digit rates for this segment
- Detail collateral clearly and realistically; BOI will assess both value and enforceability
- Match your business plan to the sector criteria: manufacturing, agro-processing, creative, ICT and services are all supported
Common mistakes to avoid
- Submitting outdated CAC documents – always download the latest certificate of incorporation and any amendments before uploading.
- Uploading incomplete financial statements – provide at least two years of audited statements with clear cash‑flow trends.
- Neglecting the collateral details – list assets with realistic valuations and evidence of enforceability; vague entries will stall assessment.
- Skipping the KYC verification step or entering mismatched BVN/NIN details – double‑check that the numbers match your identity documents to avoid verification failure.
Frequently asked questions
What loan amounts does BOI offer through MyBOI?
The portal handles multiple facilities with different amounts. The FGN/BOI MSME Intervention Fund is N75 billion in total allocation. Specific individual loan limits are not published; apply to see what you qualify for, or contact BOI directly.
Are there different products for women or youth?
Yes. BOI has youth and women-owned business products available via the MyBOI Portal. Check the facility criteria when you log in to confirm your eligibility for these specific offerings.
What interest rates should I expect?
BOI advertises single-digit rates for MSME products. No specific rate is published for the N75 billion MSME fund. Rates vary by product and facility; you will see this information when you review your chosen facility's terms.
Do I need collateral?
Collateral details are required as part of your application. Whether collateral is mandatory, and what form it can take, depends on the specific facility. You will learn this when you select your loan product.
Can I apply if my business is not yet registered?
No. A registered business with an RC (Registration Certificate) or BN (Business Name) number is a core requirement. Register your business first, then apply through MyBOI.
Before you apply
Open the BOI Loans via MyBOI Portal (incl. FGN/BOI MSME Intervention Fund) 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.
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