Federal Government of Nigeria (FGN) Special Intervention Fund / grant for MSMEs 2022 – 2023 click here to Apply Micro, Small, Medium Enterprises (MSMEs) loan for your new and already existing business.
Only Nigerians are eligible to apply. Kindly check how to apply for Federal Government of Nigeria (FGN) Special Intervention Fund / grant for MSMEs 2022 before the application deadline for the Micro Small Medium Enterprises (MSMEs) loan.
About Federal Government of Nigeria (FGN) Special Intervention Fund / Grant for MSMEs 2022
Bank of Industry (BOI) loan is been sponsor by Federal Government of Nigeria (FGN) to help assist the small business owners gain stability in their business.
All business owners in Nigeria are here by invite to apply for the loan through the Federal Government of Nigeria (FGN) Special Intervention Fund / grant application portal https://www.boi.ng/
The purpose of Federal Government of Nigeria (FGN) Special Intervention Fund / grant for MSMEs 2022
The Fund is a Federal Government of Nigeria initiative to provide subsidized loans to SMEs at single digit (9% per annum) all inclusive interest rate. The Fund is also to cater for applications received from SMEDAN under the National Enterprise Development Programme (NEDEP) Scheme.
Economic Rationale:
The Fund is aimed at stimulating economic activity in the SME sub-sector being the major drivers of industrialization, wealth and job creation.
Federal Government of Nigeria (FGN) / (BOI)Target market / criteria
The Fund can be assessed by duly registered Limited Liability Companies, Enterprises and Cooperatives in Nigeria. Applications are received and processed at BOI State Offices.
Project impact of Federal Government of Nigeria (FGN) Special Intervention Fund / grant
The fund is to be utilized for SMEs engaged in manufacturing and agro-processing businesses with emphasis on value addition to local raw materials.
Federal Government of Nigeria (FGN) / Bank of Industry (BOI) Program limit
N5.0 billion
Single Obligor Limit
N20.0 million
BOI pricing
Fees: Interest rate: 9% per annum (all inclusive)§ Legal Fee (where applicable)§
Federal Government of Nigeria (FGN) Special Intervention Fund / grant tenor
To be determined by the company’s cashflow in line with BOI standard practice.
Moratorium
6 – 12 months
Funding
FGN MSME Fund: 100%.
Phased disbursement in accordance with agreed milestones.
how to apply for BOI loan
click here to apply https://www.boi.ng/