So what cluster of businesses is BOI funding? I mean the type of business they would love to provide loans for

What type of business clusters is BOI willing to fund?

doubleakins:
Good day peeps, my business location is Ibadan but I heard BOI does not fund trading and also does not fund agric business. Pls advice as I want to go into poultry farming. I am already in the business, just need to expand it. Pls if you Ve any info, share.

They fund agric business (Farming). But I doubt if they fund trading.You probably asked because on their website it seems they fund processing and all that. But they can also create exceptions. You may even choose to say you are going into poultry farming and processing of the meat. Whether smoked, dried etc. Because this is an intervention fund by the way, they fund farming business as well. Your plan would definitely not succeed to this stage of in-class training if not for the fact that it was acceptable. But please, avoid trading completely.

doubleakins:


Electricity will be a major issue with cold room and poultry processing and I can't afford any over head cost for now since the business is young, I'm on loan and I need fast business growth. So fueling generator may not be palatable

That's true, then just look around for any other business.

"Yes/No: Should you find out the how long it takes to get a loan approved?"
The above was one of the questions in the course Applying for a Business Loan. The correct Answer was "yes". But we don't know how long it takes BOI to approve loans. Shey we no be bad students like this?
Abi, does anyone have info?

WORLDPEACE:
"Yes/No: Should you find out the how long it takes to get a loan approved?"
The above was one of the questions in the course Applying for a Business Loan. The correct Answer was "yes". But we don't know how long it takes BOI to approve loans. Shey we no be bad students like this?
Abi, does anyone have info?

Write to BOI

Attention Please!

I just want to remind us of what we already know.

9% of #5Million per annual interest rate is #450,000

Maximum of 5 years repayment.

Then a lender would be paying #1,450,000 per annual (repayment plus interest)

To me we just have to chose wisely, a highly profitable business so that we can be covering expenses servicing debt and at the same time management expenses cost, tax expenses cost and insurance expenses cost.

Be careful before you go into debt!

Chose a highly profitable business!

#1,450,000 is not a small money to generate annually after when other expenses have been covered

It is very easy to start but take a lot of hardwork and God's grace to successfully repayment (servicing debt)

ol2012:


Congrats bro,
Mine is same date but EDC Lagos
Congrats in advance to participants outside Lag/Abuja too as U await ur invites

thanks man!! congratz to u too.

WORLDPEACE:
"Yes/No: Should you find out the how long it takes to get a loan approved?"
The above was one of the questions in the course Applying for a Business Loan. The correct Answer was "yes". But we don't know how long it takes BOI to approve loans. Shey we no be bad students like this?
Abi, does anyone have info?

easy brov!! just take it one step at a time. for the fact that they shortened everything from 3mnths to two, its evident they want to disburse this year..dont forget theres a budget for this stuff and they need to expend this year. it wld be better for u to play ur part by finishing all u need ..especially d biz plan.

adah:


thanks man!! congratz to u too.

Congrats. Please how did u go about the 360 assessment?

Hello house,
please guide me.
After which my friends had helped in filling the 360 questionnaire, this is what i have o my dashboard does it mean that the 360 assessment task has been completed

Cypus01:
Hello house,
please guide me.
After which my friends had helped in filling the 360 questionnaire, this is what i have o my dashboard does it mean that the 360 assessment task has been completed

YES

Thanks Bro. Congrats once again..

gspace1960:


YES

ol2012:


Congrats bro,
Mine is same date but EDC Lagos
Congrats in advance to participants outside Lag/Abuja too as U await ur invites

congrat bro, what happen to some lagosians that we had finished but no invite.

Godiswise:



congrat bro, what happen to some lagosians that we had finished but no invite.

More invites are still coming for lagos location, I think it is batches by batches

please o update us what is happening. thanks.

cohorts 2 visit boi website to check if u qualified for d class training. have seen mine.

i have check mine, was throu. thank God

bibinwaka:
cohorts 2 visit boi website to check if u qualified for d class training. have seen mine.

Thank you. I just checked and saw my name as well. Pleasantly surprised because I literally just completed my course work between 1 and 2 am this morning. lol.

hippyseason:

Thank you. I just checked and saw my name as well. Pleasantly surprised because I literally just completed my course work between 1 and 2 am this morning. lol.

If not for something, every single one of us ought to make it because the 3 months training was not easy at all.

bibinwaka:
cohorts 2 visit boi website to check if u qualified for d class training. have seen mine.

Please bro how did you check ur name cos I have tried doing that, but couldn't access it. Or is there any different website, this is because the one I checked Oyo state was not listed.

You can check your name here:

http://www.boi.ng/yes-list/

Cypus01:

Please bro how did you check ur name cos I have tried doing that, but couldn't access it. Or is there any different website, this is because the one I checked Oyo state was not listed.

I also checked and couldn't find my name. As a matter of fact, I couldn't find any Oyo state there. What do we do now- all of is from Oyo state.

doubleakins:

I also checked and couldn't find my name. As a matter of fact, I couldn't find any Oyo state there. What do we do now- all of is from Oyo state.

Cypus01:

Please bro how did you check ur name cos I have tried doing that, but couldn't access it. Or is there any different website, this is because the one I checked Oyo state was not listed.

Send a mail to boi and copy edc

Jethrolite:




Send a mail to boi and copy edc

I did that already. Awaiting their response. But someone else can also send to give it more weight. Thanks

Pls Ve they started sending mails for the in class training to people outside Lagos and Abuja? Has anyone not in Lagos or Abuja received a mail for the in class training?

In-class Update:

Congratulations to everyone who has seen his/her names on the in-class phase list!

Nothing was so special yet but it was good and ok as we just revised what AMI has taught us. We delved on Business Model yesterday.

I was able to learnt that EDC want us to produce a bankable business plan/proposal and they would be glad if we all do... in order to complement their efforts and strengthen their partnership with BoI/FG

doubleakins:


I did that already. Awaiting their response. But someone else can also send to give it more weight. Thanks

everyone affected should send hopefully.

hello everyone, u can now check ur mails BOI has started sending mails to shortlisted participants for the in class training venue.

i just got me

We don receive our invitation for in-class training. Na to collect the money remain. E no go better for devil! lol

Those from Oyo can now check. The list has been updated. And I have also received an invitation through mail.

correct guys