Loan Amount less than N10million
Two (2) external guarantors verifiable and acceptable to BOI who must belong to any of the following categories:
⦁ Civil Servant (Level 8 and above) who should not be more than 53 years old or not more than 28 years in service (whichever comes first;
⦁ Bankers (not below the level of Senior Banking Officer) and must have been confirmed by current employer;
⦁ Professionals i.e. Medical Doctors, Lawyers, Accountants, Engineers, etc;
⦁ Staff (confirmed) of reputable Companies, International Oil Companies, Telecommunications Companies (GSM providers);
⦁ Business Owners. Their business must be duly registered with Corporate Affairs Commission.

Loan Amount N10million and above
⦁ If Bank Guarantee, a letter of intent for Bank Guarantee from the Head Office of commercial bank issuing the guarantee)
⦁ If landed property is being pledged as security, then the following:
⦁ Photocopy of the title document(s) to the property being pledged. This could be a Certificate of Occupancy, Registered Deed of Sublease or Registered Deed of Assignment/Conveyance.
⦁ Any other document as may be required by RVSG or BOI.

https:///FXgyDlcK9ccI7UC1DMMIzq for more info join here, please note all forms are free, please see attached form

FREQUENTLY ASKED QUESTIONS (FAQ)
RIVERS STATE GOVERNMENT (RVSG) & BANK OF INDUSTRY (BOI) FUND (RVSG – BOI FUND)
1. What is RVSG - BOI FUND?
This is a pool of fund (N4Billion) contributed in the ratio of 50:50 by BOI and RVSG to meet the funding needs of businesses operating in any of the 23 local governments in Rivers State.
2. What is the purpose of the BOI – RVSG FUND?
To provide financial assistance at low interest rate to entrepreneurs who are engaged in small and medium businesses in Rivers State.
3. Which business is eligible to access the BOI – RVSG FUND?
I. Business duly registered with Corporate Affairs Commission;
II. Business operating in any of the 23 local government areas in Rivers State;
III. Business that has been in operations for at least two years supported with verifiable proof of existence for this number of years;
IV. Business that has requisite regulatory approvals where applicable such as NAFDAC or show evidence of processing and payment of same.
V. Business in any of the under listed business areas/sectors:

a. Manufacturing and Processing.
b. ICT, Digital Marketing and E-commerce.
c. Transportation.
d. Oil & Gas and its value chain.
e. Creative Industry and Entertainment.
f. Agribusiness and its value chain.
g. Healthcare and Fitness.
h. Education.
i. Renewable Energy.
j. Eateries and Cafeterias
k. Cold chain business.
l. Distributors of made in Nigeria products.
m. Arts and Crafts
n. Solid Minerals Processing
o. Aquaculture/Fishing
p. Trading Activities
q. And other businesses agreed by both parties.
4. What are the Loan offers under BOI – RVSG FUND?
‘TERM LOAN’ means loan offered to applicants for procurement of items of equipment or plant and machinery;
‘WORKING CAPITAL LOAN’ means loan offered to applicants to finance the purchase of raw materials, stock-in-trade etc. as may be required for the project;
‘TRADING LOAN’ means loan offered to applicants for the purpose of trading, majorly in Nigerian made goods.
5. What is the maximum amount an applicant can access under the available types of facilities?
A. Micro business – Less than N10 million
B. Small and Medium Business – Maximum of N50million
6. What is the tenor and moratorium periods for the available types of facilities?
A. Trading Loan – Max of two (2) years & max of three (3) moratorium period;
B. Working Capital Loan – Max of three (3) years & max of six (6) months moratorium;
C. Term Loan Facility – Max of five (5) years & max of twelve (12) months moratorium.
7. What is the interest rate applicable for the available facility types?
The Interest rate is 7.5 % per annum.
For working capital: the interest rate is 8.5% per annum
9. Where can a prospective borrower apply for RVSG – BOI FUND?
The applicant can apply via https://rima.ng/loan-above-n1million/
…Or at BOI’s Rivers State Office or Office of the Rivers State Microfinance Agency.
10. How long will it take to access the loan upon submission of application?
A loan decision is usually taken within Ten (10) working days from the date of submission of complete documentation.

14. What are the types of Collateral/Security required to access these facilities?
For Loan Amount less than N10million:
a. 10% of the loan amount shall be paid as security deposit (refundable)
b. Notarized Statement of net worth of two (2) external guarantors acceptable to BOI who must belong to any of the following categories:
I. Civil Servant (Level 8 and above) who should not be more than 53 years old or not more than 28 years in service;
II. Bankers (not below the level of Senior Banking Officer) and must have been confirmed by current employer;
III. Professionals i.e. Medical Doctors, Lawyers, Accountants, Engineers,
IV. Staff (confirmed) of reputable Companies, International Oil Companies, Telecommunications Companies (GSM providers);
V. Business Owners. Their business must be duly registered with CAC.
Loan Amount N10million and above
I. Bank Guarantee from any commercial bank acceptable to BOI;
II. If landed property was pledged as security, then the following:
 Original title document(s) to the property pledged. This could be a Certificate of Occupancy, Registered Deed of Sublease or Registered Deed of Assignment/Conveyance.

15. What documents must be provided for the different facility types?
LIST OF MANDATORY DOCUMENTS TO BE ATTACHED TO YOUR APPLICATION
1. Photocopies of company’s registration documents with Corporate Affairs Commission (CAC);
2. Business Plan to include detailed company profile, Curriculum Vitae of the key Management Staff,
3. Proforma invoice(s) for the supply of item(s) of Machinery/Equipment and raw material;
4. Company’s recent Bank Statement(s) for a period of one (1) year (for existing business);
5. Three years' Audited Financial Accounts and most recent Management Account from BOI accredited auditors (for loans above N10million)
 Any other document as may be required by RVSG or BOI.

The Boi Matching Fund for Business Owners in Rivers State is a valuable initiative supporting local entrepreneurs. With the integration of an E-Commerce Management Application, this program aims to enhance digital business capabilities, fostering growth and innovation within the region. For More Detail:- https://oneapp.today

Pls. The Bank of Industry micro enterprise loan requires a letter of intent from external quarantors quarantee the loan. A Sample or explanation will help.