With a flexible structure purposely designed to reduce financial stress on the business owners, as well as help businesses stabilize and grow, the scheme gives access to loans of up to ₦5 million, at 9% interest rate per annum, three-month grace period, and three years repayment plan.
The program is designed to eliminate the bottle-necks business persons, especially women, face while trying to access business loans. The loan scheme gives priority to enterprises in such key business sectors as renewable energy, healthcare, and education, which are central to sustainable development.
Bank of Industry (BOI), the operator of the scheme, says the project is much more than just providing financial credit for women owned businesses. The scheme is expected to generate jobs, encourage entrepreneurship, and reduce poverty by assisting small businesses to not only survive, but also succeed.
The scheme aims to empower women by giving women-owned businesses the opportunity to grow and expand. Initiators of the scheme believe that it will not only help entrepreneurs increase capacity and productivity, but will also encourage entrepreneurship, create new jobs, and build a stronger economy.
A very important feature of this loan scheme is its strong focus on women-owned businesses. Women entrepreneurs in Nigeria often encounter challenges while trying to secure financial support from banking institutions. No thanks to lack of acceptable collateral or banking history. With this loan model, women-led businesses now have the opportunity to compete and expand at their own pace.
With the introduction of this loan scheme worth ₦5 billion, the Nigerian micro, small and medium businesses community received a jab in the arm. The Federal Government, working in partnership with the Bank of Industry (BOI), introduced this financial support as part of its commitment to strengthen the micro, small, and medium enterprise (MSME) sector, and thereby build a strong foundation for long-term economic growth.
The ₦5 billion loan boost is expected to create ripple effects across Nigeria’s economy. By empowering women-owned MSMEs and supporting businesses in vital sectors like renewable energy, healthcare, and education, the program aims to build a stronger and more sustainable economy. Entrepreneurs will have the resources they need to expand their businesses, employ more workers, and develop innovative solutions that address local and national challenges.
This financial support is also seen as a way to prepare Nigeria for future growth in a competitive global market. With women and underserved groups now having better access to structured credit, the program is expected to transform local communities, reduce poverty, and contribute to overall national development. The Federal Government’s initiative highlights a clear direction: building an economy where small businesses are not left behind but are given the tools to succeed.
Are you a female entrepreneur? Then you are eligible to apply.
Follow any of the links below to apply for the LOAN:
Bank of Industry Loans Portal
START HERE
The application process has been simplified so as to ensure that business owners can easily access the loan. Entrepreneurs can apply either through the Bank of Industry (BOI) offices across the country, or via the official online application portal. This is to remove the unnecessary delays and bureaucracy that discourage MSMEs from seeking financial support.
Follow any of the links below to apply for the LOAN:
Bank of Industry Loans Portal
START HERE
Applicants will be required to provide details of their business operations, sector of focus, and basic financial records. The government assures that transparency and fairness will guide the disbursement process, so that only genuine entrepreneurs benefit from the scheme. By keeping the process simple, more business owners will feel confident to apply, and this will increases the overall impact of the initiative.
Are you a female entrepreneur? Then you are eligible to apply.
To apply Now, follow any of the links below:
Bank of Industry Loans Portal
START HERE
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