News Stories in 1st Quarter 2007 Edition of DDH Magazine
Information from the international finance conference on local loans: The Bank of Industry (BOI).
This bank claims to have upped the profile of its investment loan so that from January to October 2006, it granted 100 loans valued at N10.56 billion. 86% of such loans, it further claimed went to small and medium enterprises. It advertised 3 easy steps to access BOI facilities:
- Formal Application Letter.
- Completion of BOI’s questionnaire.
- Submission of:
- Photocopy of Certificate of Incorporation
- Certified True Copy of Memorandum and Articles of Association, Form CAC2.5 (CO2) and Form CAC2.3 (CO7) of the company.
- Three years most recent audited accounts in the case of existing businesses.
- Report of Feasibility Study (2 copies).
- Land and Building documents:
- Title Documents with an unexpired tenure of 25 years minimum, Statutory Certificate of Occupancy (Original Copy for sighting)
- Approved Building Plans
- Bill of Quantities or Contractor’s Estimate /Valuation Report on Buildings as applicable;
- Satisfactory Tenancy Agreement long enough to cover the tenure of BOI’s facility, in respected of suitable rented property.
- Pro Forma invoice for items of Machinery and Equipment from the sources indicated in the feasibility Report;
- Prices and Sources of Raw Materials;
- Tax Clearance Certificate of the Company and two (2) Directors for the last three (3) years;
- Eight recent passport photographs of each of the two (2) Directors and the Company Secretary;
- Photocopy of International Passport or Driver’s License of the two (2) Directors.
BOI Address: Head Office, 23 Marina Lagos. Website: www.boinigeria.com.
Editor’s note: Possibilities shall be retained in future editions of DDH to disseminate avenues and other essential information needed by serious operators to interact with the various public and private agencies that maintain the local and international finance, oil and gas sectors of the economy.