The Bank of Industry (BOI) has introduced an online application portal that allows Nigerian business owners to request loans, submit documents and monitor their applications without visiting a bank branch.
Known as MyBOI, the platform became operational on Friday, October 2, 2026, and supports applications for both conventional loans and non-interest financing.
The service is available to new applicants and existing BOI customers, although access to financing remains subject to the bank’s eligibility requirements and credit assessment.
Through the portal, entrepreneurs can register their businesses, complete identity checks, select suitable financing facilities and follow the progress of their requests.
The development is intended to reduce paperwork and make the bank’s application process more accessible to businesses seeking funds for their operations or expansion.
Who Can Apply For BOI Business Loans?
Businesses registered in Nigeria can seek financing through MyBOI, provided they meet the conditions attached to their chosen loan facility.
New applicants need a valid Corporate Affairs Commission registration number, such as an RC or BN number, alongside an active email address and relevant business information.
They must also complete customer verification requirements, which may involve providing their Bank Verification Number (BVN), National Identification Number (NIN), identification documents and proof of address.
Other requirements depend on the nature of the business, the financing amount and the particular facility being requested.
Steps To Apply For A BOI Loan Online
1. Create An Account
Applicants should access MyBOI through the Bank of Industry’s official website and begin registration using their business registration number, email address and other requested information.
An email verification code will be sent to confirm the account before the applicant can continue.
2. Complete Business Verification
After registration, new customers must provide the information required for onboarding and Know Your Customer (KYC) checks.
This includes verifying company details and supplying relevant identification and banking information.
Existing customers who have already completed onboarding may proceed to the financing application process without repeating the initial registration requirements.
3. Complete The Required Assessments
Before requesting financing, applicants must complete the bank’s impact and sustainability assessments.
These help BOI examine the expected benefits of the proposed business activity and assess relevant environmental, social and governance considerations.
4. Choose A Financing Facility
Once the assessments are completed, applicants can select a financing option from their dashboard.
They will be required to state how much they want to borrow, what the money will be used for, the proposed repayment period and the expected source of repayment.
Applicants should review the conditions of the selected facility before proceeding.
5. Upload Supporting Documents
The portal allows applicants to submit the documents required for their financing requests electronically.
Depending on the facility, these may include business registration documents, bank statements, financial records, a business plan and information about any required collateral.
The bank provides a checklist to guide applicants through the documentation process.
6. Submit And Monitor The Application
After completing the application and uploading the necessary documents, applicants can submit their requests for review.
They can subsequently use their dashboards to check the status of their applications and respond to requests for corrections or additional information.
Does Applying Through MyBOI Guarantee A Loan?
Registering on MyBOI or submitting an application does not automatically qualify a business for financing.
BOI will still assess each request against its lending conditions, including the applicant’s business information, repayment capacity and the requirements of the selected facility.
Applicants should also understand that conventional loans and non-interest financing operate under different terms. The availability of a non-interest option does not mean that every BOI facility is interest-free.
The portal provides a digital route to applying for financing, but the bank retains responsibility for determining which applications qualify for approval.
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