Bank of Industry Launches MyBOI Portal for Loan Applications

The Bank of Industry (BOI) has introduced the MyBOI Portal, which went live on a Friday, allowing Nigerian businesses to apply for financing facilities online. This portal is designed to streamline the application process for both new and existing customers, enabling them to register, complete business profiles, submit financing applications, and track their application progress.

To apply, first-time applicants must register on the portal using a valid company registration number, email address, and other company details. An OTP will be sent for account verification.

After verification, new customers can proceed with onboarding, while existing customers can apply for financing. The financing can be utilized for various purposes, including working capital and equipment financing.

The required documentation varies based on the financing amount, with specific requirements for facilities above and below N10 million. For micro facilities, documents include a business plan and bank statements, while larger facilities require more extensive documentation.