The F.Govt is disbursing N1b Loans to Manufacturers through the Bank of Industry (B.O.I). The ongoing N1b Manufacturers Loan has begun, and they have reopened its online portal.
Here is how you can apply. If you are a small or large manufacturer and want funding for your businesses or start-ups, you can apply for the ongoing Bank of Industry (B.O.I) 1b Loan Today and get credit in minutes.
One hundred and forty manufacturing companies in the country have started receiving N1 billion loans from the Bank of Industry under the Federal Government’s N75 billion Manufacturing Sector Fund.
Also Read: F.Govt N150,000 Grants Each to Business Owners
According to the BOI Managing Director Olasupo Olusi, who announced this during the bank’s inaugural annual public lecture series in Abuja yesterday, added that N77.65 billion in loans was being disbursed to about 1,000 Micro, Small and Medium Enterprises(MSMEs) in palm kernel oil processing, furniture making and other sectors in the country.
Also Read: BOI Disburse N500m Loan To Youths – Have you Applied?
He added that the bank signed a partnership agreement with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to provide the N1 billion single-digit interest loan.
SMEDAN N1b Single-Digit Interest Loan Requirements
- Provide relevant personal and bank account information, including Bank Verification (BVN) for verification of identity and National Identification Number (NIN)
- Own a nano business.
- Operate a business with progressive economic potential, and desire to grow the business.
- Be willing to provide proof of residential/business address
- Bank statements (12 months)
- Tax clearance certificate
- Certificate of Incorporation
- Proof of registration with the Nigerian Export Promotion Council (NEPC)
- Valid means of identification (driving license, passport, voter card)
How to apply For the SMEDAN N1b Single-Digit Interest Loan
To apply for the ongoing SMEDAN N1b Single-Digit Interest Loan application, all interested applicants are to visit the SMEDAN application portal https://client.smedanmsmedatabanc.ng/create
- Provide your details (Full Name, Date of birth, Gender & phone number ) to Create an account
- Ensure all information provided is accurate before you submit your application.
The SMEDAN loan application is simple and similar to other loan applications.