The BOI/ FGN Special Intervention Fund for MSMEs is a special funding initiative under the National Enterprise Development Programme (NEDEP) Scheme.
The Fund is aimed at providing subsidized loans to SMEs at single digit (9% per annum) all-inclusive interest rate, it is also meant to cater for applications received from SMEDAN under the National Enterprise Development Programme.
The NEDEP scheme was initiated specifically at generating an estimated 5 million jobs by focusing on skills acquisition, entrepreneurship training/business development service (BDS) and access to finance.
The goal is to support and assist in the creation of as many enterprises in every state and local government in Nigeria while ensuring that more Nigerians are provided with employment opportunities. NEDEP is overseen by the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN)
READ: List of Business(es) Eligible for Bank of Industry Loan
The fund is specifically targeted to be utilized for SMEs engaged in manufacturing and agro-processing businesses with emphasis on value addition to local raw materials. Eligible SME can access up to N20 million.
The Fund can be assessed by duly registered Limited Liability Companies, Enterprises and Cooperatives in Nigeria.
Bank of Industry (BOI) is the disbursing financial institution, therefore, applications will be submitted and processed at BOI State Offices. CLICK TO DOWNLOAD MORE DETAILS
Visit http://www.boi.ng/apply/ to commence application