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.

Please Share :

See also :   Konga Launches Digital Goods and Services

Written by Jide Ogunsanya

Pro Nigerian Blogger, Digital Marketer and Web designer. I help business owners to grow their businesses online. You can join my Facebook Group here.

6 Comments

Leave a Reply
  1. 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

Leave a Reply

We're glad you have chosen to leave a comment. Please keep in mind that comments are moderated according to our comment policy. Your email address is required but will not be published. No keyword stuffing in the name field and commenting from blah blah blah makes no sense. Thank You.

  • Do You Want To Work At Dubai ?Click Here
  • You Can Make Money Promoting Other People's ProductsRead More
  • Interested in starting data plans reselling business?Click Here
  • Want To Join A Forum Where You Can Discuss Blogging?Click Here
  • NetDivo ePin Manager Lets You Print Airtime Of All NetworksLearn More

Nawhere.ng: Now You Can Buy Fuel at N86.5/ltr Without Stress

Free eBook : AdSense Guide to Audience Engagement