Apply for a BOI FG loan now.

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Apply for a BOI FG loan now.

Apply for a BOI FG loan now. Three funds totaling N200 billion have been established by the Federal Government through @TradeInvestNG to assist businesses around Nigeria. They are as follows:

  • PCGS stands for Presidential Conditional Grant Scheme.
  • The Fund for FGN MSME Intervention
  • Fund for the FGN Manufacturing Sector.

What you should understand about every financing source:

Presidential Conditional Grant Program Overview

  • N50 billion award program for eligible nano-business owners.
  • Applicable to all LGAs in the nation and six council areas in the Federal Capital Territory.
  • Requires ownership of a nanobusiness, readiness to hire additional employees, and business name registration.
  • Requires documentation of residence, business address, bank account, and personal details.

Note: Repayment is not necessary for beneficiaries.

MSME Intervention Fund for FGN

  • N75 billion fund to aid MSMEs in Nigeria.
  • Acts as a buffer against high production, marketing, and distribution costs.
  • Maximum N1,000,000 per beneficiary.
  • Funds were used for working capital and equipment over three years.
  • Interest rate: 9% annually.

FGN Manufacturing Sector Fund Overview

  • N75 billion fund to offset rising costs of product production, marketing, and distribution.
  • Up to N1 billion was awarded to beneficiaries.
  • Funds are distributed with one-year working capital and five-year term loans.
  • Interest rate of 9% all-inclusive annually.
  • Administration is dedicated to MSMEs growth.
  • The Bank of Industry manages funds daily.

Read more on The FG N50k Grant is Moving Forward—Submit Your Application

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