The AKSG–BOI MSME Loan Program is a partnership between the Akwa Ibom State Government (AKSG) and the Bank of Industry (BOI) to provide financial support of up to ₦100 million for Micro, Small, and Medium Enterprises (MSMEs) in Akwa Ibom State. The program is designed to boost business growth, create jobs, enhance agricultural productivity, and drive economic development.
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When is the Application Deadline:
No fixed deadline. Applications are open on a rolling basis. Approval typically takes 2–4 weeks depending on document completeness.
Which Fields are Eligible?
All MSMEs across sectors, including agriculture, manufacturing, services, and trade.
Type:
Business Loan (Term Loan & Working Capital Facility).
Who can Apply?
- CAC-registered Micro, Small, or Medium Enterprises headquartered in Akwa Ibom State.
- Applicants must have a valid form of identification (National ID, Driver’s License, Voter’s Card, or International Passport).
How are Applicants Selected?
- Online application submission.
- Document verification.
- Capacity training with Ibom-LED.
- Final approval and fund disbursement by BOI.
Which Countries Are Eligible?
Nigeria (Akwa Ibom-based businesses only).
Where will the Program be Taken?
Nationwide disbursement but strictly for enterprises based in Akwa Ibom State.
How Many Awards?
Not specified – multiple businesses will be funded.
What is the Benefit of the Program?
- Loan amounts: ₦10m (Micro) up to ₦100m (SMEs).
- Interest rate: 7.5% (Term Loan), 8.5% (Working Capital).
- Loan Tenure: 3–5 years (Term), up to 3 years (Working Capital).
- Capacity building via Ibom-LED training.
- Affordable financing to reduce costs and boost growth.
How Long Will the Program Last?
Loan repayment period: 3–5 years depending on facility type.
How to Apply:
- Fill the online application form with accurate business details.
- Upload CAC and other required documents.
- Complete Ibom-LED training.
- Await approval and BOI disbursement.
Visit the Program Webpage for Details:
👉 https://aksgboiloan.akwaibominvest.ng/apply/