The Federal Government, in partnership with the Bank of Industry (BOI), offers the N75 Billion MSME Intervention Fund, designed to empower businesses and drive economic growth. With the support of the Enugu SME Center and the visionary leadership of His Excellency, Dr. Peter Mbah, this program is helping MSMEs in Enugu State unlock their full potential.
What You Need to Know:
Loan Amount: Up to ₦1 million at a 9% annual interest rate, repayable over 3 years.
Eligibility: Registered businesses with the Corporate Affairs Commission (CAC)—start-ups and existing businesses included.
Repayment Grace Period: 3 months post-disbursement before repayments begin.
Usage: Funds can be used to support business operations, reduce production costs, and drive expansion.
Documents Required:
- CAC Registration Certificate
- BVN and executed Global Standing Instruction (GSI) Mandate
- Four passport photographs of the business promoter and guarantor
- Valid ID (National ID, Driver’s License, International Passport, or Voter’s Card)
- Basic business records for existing businesses
How to Apply:
Visit https://fgnboimsmeinterventionloan.boi.ng/ to apply, track your application, and access the list of Partner Financial Institutions (PFIs).
Collateral Requirements External guarantors, including professionals, civil servants, or business owners, with a net worth of at least 200% of the loan amount.
Under Dr. Peter Mbah’s administration, Enugu is championing initiatives that empower small businesses, fostering innovation, job creation, and economic growth. Enugu SME Center remains dedicated to ensuring MSMEs have access to the resource needed to thrive.
This is your chance to transform your business and contribute to Enugu’s economic prosperity!
Signed
Arinze Chilo-Offiah
Special Adviser on MSMEs & Digital Economy
Director-General (DG), Enugu SME Center
