How To Apply for Business Loans Online As BOI Launches MyBOI Portal
- The Bank of Industry has launched a digital portal that allows Nigerian businesses to apply for conventional loans and non-interest financing
- Applicants need a valid company registration number, email address and supporting documents to complete the process
- Customers can register, complete assessments, submit applications and track their progress online
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Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Bank of Industry (BOI) has launched a new online portal to help Nigerian businesses access financing, allowing entrepreneurs to complete loan applications and monitor their progress without visiting a physical office.
The platform, known as MyBOI, went live on Friday, October 2, 2026, providing new and existing customers with access to the bank’s conventional loans and non-interest financing facilities.
Source: Getty Images
According to BOI, the platform is designed to simplify the application process, improve customer experience and reduce delays associated with manual paperwork.
Business owners can access the MyBOI Portal through the bank’s official website to register, complete onboarding assessments, submit financing applications and receive updates on their status, Punch reports.
Who can apply for BOI loans?
Nigerian businesses seeking financing from BOI can apply through the portal, subject to the eligibility requirements of the particular financing facility.
Applicants must provide their company registration details and complete the bank’s customer verification and assessment procedures.
The portal requires first-time users to have a valid company registration number, such as an RC or BN number, a valid email address and the necessary company information.
Applicants must also complete identity verification and know-your-customer (KYC) checks, which may require their Bank Verification Number (BVN), National Identification Number (NIN), identification documents and proof of address.
The bank offers conventional and non-interest financing options. However, submitting an application does not guarantee approval, as every request is subject to credit assessment and other eligibility requirements.
How to apply for a BOI loan online
Interested business owners can follow these steps to apply through the official MyBOI Portal.
1. Register on the portal
First-time applicants should visit the website and create an account using their company registration number, email address and other required business details.
A one-time password (OTP) will be sent to the registered email address for verification. Once verified, the applicant can proceed to the next stage.
2. Complete customer onboarding
New customers must complete the onboarding process, which includes identity verification, KYC compliance and the submission of relevant business information.
The portal validates details such as the company name, registration number, BVN, NIN and bank account information.
Existing BOI customers who have already completed onboarding can proceed directly to the financing application stages.
3. Complete the required assessments
Applicants must complete the mandatory impact and sustainability assessments before submitting their financing requests.
These assessments help BOI evaluate the proposed project's expected development impact and relevant environmental, social and governance considerations.
Source: Getty Images
4. Select a financing facility
After completing the required assessments, applicants should log in to their dashboard and select the option to apply for a facility.
They must provide details about the amount requested, the purpose of the financing, the repayment period, the proposed repayment source and other information required by the bank.
5. Upload supporting documents
Applicants must upload the required documents through the portal's documentation section.
Depending on the business and financing facility, these may include company registration records, identification documents, financial statements, bank statements, business plans and collateral information.
BOI provides a document checklist and application guidance to help applicants identify the requirements relevant to their applications.
6. Submit and track the application
After completing the forms, uploading the required documents and making the necessary declarations, applicants can submit their review requests.
Customers can then log in to their dashboards to monitor application updates and respond to requests for additional information or corrections.
Nigerians to apply for zero-interest loans
Earlier, Legit.ng reported that the Nigerian government is set to empower market women, small-scale traders, and artisans with access to zero-interest loans of up to N100,000 through its upcoming programmes, MarketMoni and TraderMoni.
MarketMoni will provide market women with interest-free loans to grow working capital, restock inventory, and expand their businesses.
Beneficiaries will enjoy zero collateral, a 3-month moratorium before repayment, and nationwide coverage across all six geopolitical zones.
Source: Legit.ng
