APPLICATION FOR LOANS THROUGH BANK OF INDUSTRY

In light of the recent economic downturn, development strategies that create new jobs and support the growth of businesses are of greater need than ever.
Micro-enterprises play a critical role in this quest as they account for a larger share of newly created jobs. However, only a fraction of these start-ups survive for more than two years or even develop into the high-growth firms.
Among the biggest barriers to their sustained growth are lack of access to training, development support, and access to funding. The “Youth Ignite” Project (under the Bank of Industry’s (BOI) Micro-enterprise Finance Program) seek to address these challenge by supporting 1 million entrepreneurs to create 5 million jobs over the next 5 years.

How to apply

  • Interested entrepreneurs should visit www.youthignite.ng
  • Entries must be submitted online within the specified time frame and conform to specified guidelines and terms and conditions of participation clearly outlined on this website.
  • All entries will be reviewed by the Panel of Judges who consist of carefully selected accomplished professionals from all walks of life.


TERMS & CONDITIONS
  • Applicants must be of Nigerian nationality
  • Applicants must be between the ages of 18 – 35.
  • Failure to verify age will result in the application being declined.
  • Applications must articulate a specific business problem to solve or opportunity to address.
  • Applicants must be clear on the benefits from the loan.
  • Employees of Bank of Industry, First Bank, AG DC, Digital Jewels Limited, etc. and their families are not eligible to apply.
  • The Judges’ decisions are final.
Duration of the Programmed
Loan cycle - 12 months (3 months’ moratorium, 9 months’ repayment)

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