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Showing posts from September, 2016

LIST OF DOCUMENTS REQUIRED FOR LOAN APPLICATION FOR BUSINESS ENTERPRISES

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Formal Application. Photocopy of Certificate of Registration (Form CAC/BN/A1) Business Plan Valuation report on existing assets prepared by an accredited BOI valuer. Value of equipment to be purchased from BOI accredited supplier (including invoices). Source(S) and value of raw materials to be purchased expressed in Units Two (2) passport photographs  of the promoter (Business Owner) Photocopy of the current Tax Clearance Certificate of the Proprietor. Means of Identification (i.e. International Passport or Driver’s licence or National Identity card of two directors of the company. Bank Statement of the company for six (6) months. Declaration of Outstanding Liabilities to other Banks and Individuals. Reference letter from a recognised traditional ruler or authorized Local Government Official. Provision of a minimum of two (2) External Guarantors to guarantee the loan. The Guarantors must belong to any of the following categories; Senior Civil Servant (not below the ...

TEN THINGS YOU NEED TO KNOW ABOUT BANK OF INDUSTRY LOAN

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1.The Bank of Industry (BOI) targets the industrial sector of the economy The bank of industry is set up to encourage industrial production and value creation by manufacturing and processing activities of businesses. The objective is to provide the industrial sector with finance as well as business support services. Target sub-sectors include Agricultural and Agro-allied businesses, Solid Minerals, Oil and Gas, Manufacturing and any business which operates in any of these value chains and uses equipment to carry out processes that add value. 2. The Bank of Industry finances plant and equipment The bank of industry does not finance raw materials, nor working capital, nor lands and building. The bank is principally set up to finance industrial equipment. So if you are a primary agricultural producer (for instance) what the BOI will finance is the equipment that you need to produce your goods. That could be in your case tractors, combine harvesters, dryers, freezers, or any oth...