Light Manufacturing Security Requirements
Loan Amount Up to ₦10 million
- Asset debenture over the equipment financed
- Irrevocable Personal Guarantee of the Chief Promoter of the company (For Limited Liability Companies)
- Two (2) external guarantors acceptable to BOI who must belong to any of the following categories:
- Senior Civil Servant (Level 12 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 (Assistant Manager) and must have been confirmed by current employer.
- Professionals i.e. Medical Doctors, Lawyers, Accountants, Engineers, etc.
- Senior Staff (not less than a manager) of reputable quoted Companies, International Oil Companies, Telecommunications Companies (GSM providers)
- Asset and Credit life insurance of the Chief Promoter, stating BOI as the first loss payee or any other Guarantor that is acceptable to the Bank.
The guarantees must be supported with Notarised Statement of Net worth acceptable to BOI
Loan Amount > ₦10 million ≤ ₦200 million
- All assets debenture
- Irrevocable Personal Guarantee of the Chief Promoter of the company
- Asset and Credit Life insurance of the Chief Promoter or Bank Guarantee from Commercial Banks acceptable to BOI
