FGN/BOI Opens Application Portal For N75bn MSME Fund
FGN/BOI Opens Application Portal For N75bn MSME Fund:
Are you Nigerians with registered business and looking for fund to boost your business productivity? If yes.
Federal government launched MSME Intervention Program in Collaboration with Nigerian Association of Small Scale Industrialists and bank of Industry to assist Nigerian MSMEs .Bank of Industry announced the commencement of its loan application for supporting Nigerian MSMEs.
The application portal is opens for interested and qualified Nigerian businessmen and women who willing to increase their business productivity.
The Federal government approved N75 billion for eligible MSMEs, the Nigerian Association of Small Scale Industrialists courage the federal government for the MSME Intervention program to support Nigerian MSMEs by increase their business productivity. The NASSI (National President of Nigerian Association of Small Scale Industrialists) Dr Solomon Vongfa calls all eligible MSMEs to use this opportunity and apply for the N75,000,000,000 MSME Intervention Fund.
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Amina Habu Mohammed, a bank of Industry representative announced the commencement of MSME Intervention Programme. This was disclosed during a conferences metting on a Memorandum of Understanding (MoU) between Nigerian Association of Small Scale Industrialists (NASSI), bank of Industry and the sensitization on N75,000,000,000 MSME Intervention Fund in Abuja FCT.
Amina added, that the fund targets N75 billion to MSMEs at N1 million with 9% each interest rate for the duration of three (3) years without collateral. This program is a an opportunity to any eligible MSMEs to increase their business productivity and capability for the contribution to the growth and development of the country economy.
MSME Intervention Program Summary
Above table is the Summary of FGN/BOI MSME Intervention Programme.
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What Is FG MSME Intervention Programme?
The MSME Intervention Program is a program designed by the federal government of Nigeria in partnership with Nigerian Association of Small Scale Industrialists and Bank of Industry to support Micro, Small, and Medium Enterprises for increase their business productivity, bank of Industry Opens Application Portal for MSME N75bn MSME with lowest interest rate of 9% per year.
FGN MSME Intervention Programme Application Process
The BoI Loan application undergo the following 5 Steps below:
Step:1 Submit an Online Application Form: Fill an online application form with the necessary requires informations and submit the application for Undergo review
Step: 2 Verification of Documents: Supply the Supported documents as a mandatory to support your application form for approval
Step: 3 Approval of Loan: The BoI Board will receive your application form submitted for consideration
Step: 4 Disbursement of Fund: Once the application loan was approved, the BoI will disburse the funds to your destination account Number.
Step: 5 Repayment of Loan: Once you have received the loan, ensure you have boost your business productivity and capability and start thinking for repayment of the loan you have received.
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Purposes Of MSME Intervention Programme
The program is Tailored Loan Solutions for the Needs of any qualified Nigerian citizens. The program is designed to empower MSMEs (Micro, Small, and Medium Enterprises) Nationwide in Nigeria.
Federal government is Initiates the program under the Bank of industry, their targeting is looking way of reduction the production costs, enhance Agricultural productivity and capability, jobs creation and or contribution to the development and growth of the economy of thd country. This program is aims here to support the needes for the Nigerian citizens:
- Reducing the cost of production: Reduce/lower the operating activities cost and incredible profitability with the targets of the federal government to support MSMEs (Micro, Small, and Medium Enterprises).
- Creations of Job: Create employment opportunities and enhance a stronger contribution to the development and growth of the economy
- Improve Agricultural Activities: Invest in agricultural activities to increase your land’s potential and increase food production.
- Helping Business Growth and development: Grow your business dreams with the right business financing solutions that drive growth and value.
Improving Family Well-being: Improve the quality of life for families Nationwide by increasing household income and well-being.
Drive Economic Growth: Make a positive change on the Nigerias gross domestic product (GDP) and overall economic growth and development through your business activities.
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Documents Required To Uploads
- Four Recent Passport photography
- Bank Verification Number (BVN)
- Identification Number ( NIN, Voters Card, International Passport and or Driver’s license)
- Guarantor Curriculum Vitae (CV)
How To Apply FG MSME Intervention Programme
Interested Candidates with registered business (MSMEs (Micro, Small, and Medium Enterprises) is eligible for this FG MSME Intervention Programme. Apply here by following the instructions below:
- Visit https://fgnboimsmeinterventionloan.boi.ng/, once you visited the BOI application portal scroll down.
- Click Start Registration and you will automatically redirect to another page where you can create an account and or log into your account.
- Fill all the requires fields and Click Register for new users while existing should click log in, to continues for application form both of the new and existing you need to log into your by using the email address and password.
- Supply the requires informations and click next to proceed.
- Upload the required documents carefully
- Submit an application form
