5/10/2016

Business Loan Beneficiaries in Nigeria Increased From 1,200 to 4,000 By BoI



Following the turnout of applicants for its N10 billion facility earmarked for on-lending to small businesses under the Youth Entrepreneurship Support (YES) programme, the Bank of Industry (BoI) has concluded plans to expand the fund size as well as accommodate more candidates under the scheme.

Specifically, the bank noted that due to the high rate of applications received for the YES initiative, it would increase the size of the fund from the initial N10 billion, while considering an increase in the number of would-be loan beneficiaries from 1,200 yearly to 4,000 candidates.

 business loan


Speaking at the assessment exercise of the initiative and inauguration of a seven-man panel to serve on the application screening committee in Lagos, BoI’s Acting Managing Director, Waheed Olagunju, noted that out of the 40,000 applications received, 15,000 or 37.5 per cent were properly completed and thus qualify for consideration for the first segment of the entrepreneurship capacity building programme which is the eight weeks online training component.

We have therefore come to the conclusion that we should provide more opportunities for the youth by increasing the number of would-be loan beneficiaries from 1200 to 4000. Efforts would be made to ensure a fair distribution of the beneficiaries in consonance with the proportion of entries received from the six geopolitical zones”, Olagunju added.



You can read more about the BOI business loan here.


Share :


5 comments:

  1. thenewsblogger.com5/10/2016

    they better make it all inclusive and very flexible

    ReplyDelete
  2. Are the right people benefiting from it? Is the question we should ask ourselves.


    www.trendwithgloria.com

    ReplyDelete
  3. The problem is; when the application form was on, nobody knows. now that the beneficiaries have been selected, it has become a public news. there is God oooh

    ReplyDelete

We love to hear from you!

Sign in to comment "anonymously" without entering verification text.

Want to be notified when I reply your comment? Tick the "Notify Me" box.

If your comment is unrelated to this post, please drop it at my Facebook group here.

THANKS.

Designed by Jide Ogunsanya.