The Bank of Industry loan application for interested corporative societies is ongoing, you may request the amount of ten million naira (N10million) naira.
HERE IS THE LIST OF REQUIREMENTS FOR THE BANK OF INDUSTRY APPLICATION LOAN
Formal Application on letterhead and duly completed loan application form
Photocopy of Certificate of Registration
Photocopy of Bye-Laws/Constitution of the Society
Business Plan which includes detailed Profile of the Cooperative Society with Curriculum Vitae of the Executive members.
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Proforma Invoice for the supply of items of Equipment to be purchased.
Sources and quotations for Raw Materials expressed in quantity and amount
Means of Identification of every beneficiary member:
(a) Four (4) passport photographs and Biometrics Verification Number (BVN).
(b) Photocopy of International Passport or Driver’s License or National Identity Card or Permanent Voter’s Card
Bank Statement of the Society for a period of one (1) year (for existing societies)
Declaration of Outstanding Liabilities to other Banks and Individuals (if any) Security:
If the landed property is being pledged as security, then the following:
If operating from rented premises, the lease agreement must have a tenor of at least one year beyond the loan tenor.
Letter of Consent to borrow, issued by the Director of Cooperatives of the State.
Post Approval Checklist for Corporative Societies
Submission of Letter of Offer duly endorsed by all beneficiary members of Society.
Letter of Acceptance of Offer signed by the President and Secretary of the Society.
Evidence of payment of fees (if applicable, appraisal, commitment, and legal fees)
Return of duly executed Loan Agreements duly endorsed by President and Secretary.
Individual External Guarantors (if applicable):
Proforma Invoice(s) for the approved items to be financed
For more information regarding the bank of industry corporative societies loan application, please log on to the official website of Bank of Industry via https://boi.ng
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Tags: BUSINESS STEP BY STEP FOR BANK OF INDUSTRY LOAN APPLICATION
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