How To Get Bank of Industry Enterprise Loan

Enterprise Loan – If you’re an entrepreneur, a business owner, or the owner of a digital start-up looking for finance, the Bank of Industry in Nigeria is a great place to start. To apply for this loan, go to any BOI branch, fill out an application, and prepare all of the documents mentioned below for the pre and post approval stages.

Pre-approval checklist for entrepreneurs with a value of ten million dollars or less

  1. Formal letterhead application and duly filled loan application form
  2. Certificate photocopy and registration form
  3. A complete profile of the business enterprise, as well as the curriculum vitae of key management personnel, is included in the business plan.
  4. A proforma invoice for the equipment that will be purchased.
  5. Raw Material sources and quotations indicated in quantity and amount
  6. Promoters can be identified in a variety of ways.
  7. Biometrics Verification Number (BVN) and four (4) passport photos
  8. International Passport, Driver’s License, National Identity Card, or Permanent Voter’s Card photocopy
  9. For a period of one (1) year, the bank statement of the company enterprise (for existing business)
  10. If there are any outstanding liabilities to other banks or individuals, these must be declared.
  11. Two external guarantors, each with suitable identity such as a BVN, four (4) passport photos, and Identity Cards in addition to a letter of intent to guarantee the loan

Security for Enterprise Loan

The following must be provided if landed property is being pledged as security:

  • A photocopy of the pledged property’s title document(s). This could be something like a Certificate of Occupancy or a Deed of Trust.
  • Sublease or Assignment/Conveyance Deed
  • Proof of up-to-date Ground Rent payment
  • The owner of the property obtains a Tax Clearance Certificate (TCC) from the state where the property is located.
  • A valuation report from one of the BOI’s accredited valuers is required.
  • Four (4) passport photographs and the property owner’s BVN (vi) Property owner’s means of identification
  • Property owner’s letter of consent to mortgage property to BOI (viii) If the property is owned by a limited liability company other than the borrower, the company’s Board Resolution

12) If you’re working out of rented space, the lease agreement must last at least one year longer than the loan term. Read also: How to Get Loan for Farmers in Nigeria (2021) | Best Guide


  1. Submission of a legally endorsed Letter of Offer by the Proprietor (s)
  2. The proprietor signs a letter of acceptance of the offer (s)
  3. Evidence of fee payment (if applicable, appraisal, commitment and legal fees)
  4. Return of duly completed Loan Agreements with the Proprietor’s signature (s)
  5. Letter with a sample of the Proprietor’s signature (s)
  6. (If applicable) Individual External Guarantors:

(a) Photocopy of International Passport, Driver’s License, National Identity Card, or Permanent Resident Card

  • Card of the Voter
  • (Photographs for four (4) passports
  • Notarized Net-Worth Statement (Form will be issued by BOI)
  • (BVN
  • The Guarantor’s Curriculum Vitae (s)

7) Original proforma invoice(s) for the funded items

Source: Nyscinfo

1 thought on “How To Get Bank of Industry Enterprise Loan”

  1. God bless you as you are supporting the youths please I need your help I want too organize business just to support me God will continue to bless you thanks oluwaseun


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