BOI GLOW Loan Application For Women Entrepreneurs | Apply Now
If you are a female entrepreneur in Nigeria and needs a loan to boost your business, then this opportunity is for you as we walk you through the BOI GLOW (Guaranteed Loans for Women) Entrepreneurs, make sure you read to the end.
About BOI GLOW Loan Application For Women Entrepreneurs
BOI GLOW loan initiative is a transformative solution built to ignite the growth of women-owned businesses across sectors. Whether you’re just starting out or scaling up, GLOW is here to champion your journey with Real Tools, Real Support, and Real Impact. It is a ₦10 billion fund designed to empower and support women-owned businesses across Nigeria.
The Bank of Industry (BOI) recognizes women’s economic empowerment as essential to national growth. As part of its commitment to gender inclusion, BOI is taking intentional steps to embed gender considerations across its operations and policies. The Bank actively supports women-owned businesses and builds partnerships that strengthen opportunities for women across sectors.
BOI identifies Gender as one of its core Thematic Areas with a dedicated Gender Business Desk and a strong commitment to gender inclusion at every level.
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What to Gain from this Initiative
- Affordable, accessible financing tailored to your business
- Strategic business development support to strengthen your operations
- Hands-on capacity-building programs that deliver practical skills
- Mentorship and coaching from experienced industry leaders
Eligibility Criteria
- Women Owned Businesses
Target Market
The target market is registered Limited Liability Companies, Enterprises engaging in business in any of the underlisted business areas/sectors
- Manufacturing and processing
- ICT, digital marketing and e-commerce
- Oil & gas and its value chain
- Creative industry and entertainment
- Agribusiness and its value chain
- Healthcare and fitness
- Education
- Renewable energy
- Eateries and cafeterias
- Cold chain business
- Arts and crafts
- Solid minerals processing
- Aquaculture
- Leather
- Garmenting
- Bakery and confectionary
- Rafia palm processing
- Waste management
- Tourism and Hospitality
- Other feasible and value adding businesses or services
How to Apply
Interested applicants can register and apply through the official BOI GLOW portal here https://iprogrammes.boi.ng
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Some Frequently Answered Questions
What is GLOW?
GLOW is an acronym for “Guaranteed Loans for Women”
Who is eligible to apply for the GLOW Programme?
- Ownership/entrepreneurship: A woman owned business is one that has at least 50% ownership by a woman.
- Leadership: A woman-led business is one that has at least 30% women in senior leadership or 30% women on the Board or Investment Committee.
- Employment: Share of women in the workforce up to 30% of the workforce as women
- Supply chain: The enterprise must be committed to supporting women in the supply chain and have one quality indicator in the supply chain beyond compliance.
- Products and services: The enterprise produces or has services that enhance the wellbeing of women/girls or drives gender equity.
What is the interest rate of the loan?
The loan has a 7% per annum interest rate which is inclusive of all application processing fees, with the exception of Insurance and Legal fees.
What are the repayment terms for GLOW loans?
- Repayment is typically on a monthly basis or in line with the business cycle where expedient.
- The maximum tenor for Term loan is five (5) years, inclusive of a six (6)-month moratorium period (or up to 1 year where considered necessary) on Principal repayments from the date of loan disbursement.
- The maximum tenor for Working capital loan is three (3) years (inclusive of a six (6)-month moratorium period on Principal repayments from the date of loan disbursement.
What financial support does GLOW provide?
Beneficiaries would be eligible for a loan of a maximum of N10 million for micro enterprises, and a maximum of N50 million for SME Businesses, which can be utilized for asset and raw material finance.