BOI GLOW Loan 2026: How to Apply, Requirements, Interest Rate, Eligibility and Registration Portal in Nigeria
Are you a Nigerian woman entrepreneur looking for an affordable business loan to expand your business, purchase equipment, increase production or start a new business venture? The Bank of Industry GLOW Loan may be an opportunity worth exploring.
The Bank of Industry (BOI) introduced the Guaranteed Loans for Women (GLOW) programme to improve access to affordable financing for women-owned businesses in Nigeria. The initiative is designed to support female entrepreneurs through business financing, mentorship, capacity-building programmes and professional business development services.
Under the GLOW programme, eligible micro enterprises can access financing of up to ₦10 million, while eligible small and medium-sized businesses can access up to ₦50 million, subject to BOI assessment and approval.
The programme also offers a published interest rate of 7% per annum, with repayment periods of up to five years for term loans and three years for working capital facilities.
If you want to understand how the BOI GLOW Loan works, who qualifies, how much you can borrow, what documents are required and how to apply online, this comprehensive guide covers the important details.
What Is the Bank of Industry GLOW Loan?
GLOW stands for Guaranteed Loans for Women.
It is a financing initiative of the Bank of Industry designed to empower women entrepreneurs by providing access to affordable business loans and additional business development support.
The programme aims to address the financial challenges faced by women entrepreneurs, particularly those who struggle to obtain business financing through conventional lending channels.
Many female business owners have viable business ideas and profitable enterprises but lack sufficient funds to purchase machinery, acquire raw materials, expand production or improve their operations.
The GLOW programme seeks to bridge this financing gap by providing tailored financial support to eligible women-owned businesses.
The initiative is supported by a ₦10 billion fund and focuses on businesses involved in productive and value-adding economic activities.
Apart from financing, beneficiaries can access:
- Business development services.
- Mentorship and coaching.
- Practical business training.
- Capacity-building workshops.
- Guidance from experienced industry professionals.
The objective is not just to provide money but to help women-owned businesses become stronger, more productive and sustainable.
How Much Is the BOI GLOW Loan in Nigeria?
One of the most important things applicants want to know is how much they can receive under the GLOW programme.
According to the Bank of Industry’s official GLOW programme information, the financing limits are:
| Business category | Maximum financing |
|---|---|
| Micro enterprises | ₦10 million |
| SME businesses | ₦50 million |
For example, a woman operating an eligible micro manufacturing business may apply for financing of up to ₦10 million.
Similarly, an eligible woman-owned SME may request financing of up to ₦50 million.
However, the amount requested is not automatically the amount approved.
BOI assesses each application based on the business’s financial position, operational capacity, project requirements, repayment ability and other applicable credit conditions.
Applicants should therefore request an amount that reflects their actual business needs and financial capacity.
What Is the Interest Rate on the BOI GLOW Loan?
The published interest rate for the BOI GLOW Loan is 7% per annum.
This is a concessionary financing rate intended to make business financing more affordable for eligible women entrepreneurs.
According to the official GLOW programme information, the 7% rate is inclusive of application processing fees, excluding applicable insurance and legal fees.
The programme brochure also indicates that appraisal, commitment and monitoring fees are not applicable under the stated micro financing terms.
Applicants should carefully review their individual offer letters to understand the actual repayment obligations and any applicable charges.
It is important to remember that the 7% interest rate is annual, not monthly.
What Is the Repayment Period for the GLOW Loan?
The repayment period depends on the type of financing approved.
BOI provides different repayment arrangements for term loans and working capital facilities.
1. Term loan repayment period
Term loan facilities have a maximum repayment period of five years.
The published terms include a six-month moratorium on principal repayment from the date of disbursement. This may extend to one year where BOI considers it necessary.
Term loans are particularly useful for businesses purchasing machinery, production equipment and other long-term business assets.
2. Working capital repayment period
Working capital facilities have a maximum repayment period of three years.
The published terms include a six-month moratorium on principal repayment from the date of disbursement.
Working capital financing can help eligible businesses purchase raw materials required for production.
Repayments are generally made monthly or in line with the business cycle where appropriate.
A moratorium on principal repayment does not automatically mean that interest and all other obligations are suspended. Applicants should confirm the exact repayment schedule in their facility agreement.
Who Is Eligible for the BOI GLOW Loan?
The GLOW programme is designed specifically to support women-owned businesses.
According to the official programme information, women-owned enterprises operating in eligible sectors can apply.
Potential applicants include:
- Women entrepreneurs operating registered businesses.
- Women who own registered limited liability companies.
- Female manufacturers seeking financing to increase production.
- Women operating eligible agricultural processing businesses.
- Female entrepreneurs involved in fashion and garment production.
- Women operating eligible healthcare and educational businesses.
- Women involved in technology and digital enterprises.
- Female entrepreneurs seeking to purchase production equipment.
- Women-owned SMEs seeking business expansion financing.
The programme requires applicants to satisfy the applicable registration, sector, documentation and credit assessment conditions.
Being a woman business owner does not automatically guarantee approval.
Your business must also meet BOI’s requirements, and the proposed project must be considered suitable for financing.
Which Businesses Can Apply for the BOI GLOW Loan?
The GLOW programme supports businesses involved in manufacturing, processing, agribusiness and other productive, value-adding activities.
The official programme identifies several eligible sectors.
1. Manufacturing and production businesses
Women operating manufacturing businesses can explore GLOW financing to purchase machinery, raw materials and other production assets.
Examples include:
- Soap manufacturing.
- Detergent production.
- Plastic manufacturing.
- Furniture production.
- Cosmetics production.
- Textile manufacturing.
- Packaging production.
2. Fashion and garment businesses
Women operating fashion and garment businesses may apply for eligible financing to expand production.
Examples include:
- Fashion design businesses.
- Garment manufacturing.
- Textile production.
- Industrial tailoring.
- Embroidery services.
Financing may be used for eligible sewing machines, industrial equipment and production materials.
3. Food processing and bakery businesses
Women entrepreneurs involved in food processing and bakery production can explore the programme.
Examples include:
- Bread production.
- Cake and confectionery production.
- Packaged food manufacturing.
- Fruit processing.
- Food packaging.
- Commercial food processing.
4. Agribusiness and agricultural processing
The programme supports eligible value-adding agribusiness activities.
Examples include:
- Agro-processing.
- Food preservation.
- Aquaculture.
- Agricultural product packaging.
- Processing of agricultural raw materials.
- Palm and raffia processing.
Important: The GLOW programme excludes trading and primary agriculture. Simply operating a farm or buying and reselling agricultural products does not automatically qualify. Applicants should focus on eligible value-adding business activities.
5. Information technology and digital businesses
Women-owned businesses involved in technology and digital services can also explore GLOW financing.
Examples include:
- Software development.
- Digital marketing.
- E-commerce.
- ICT services.
- Technology-driven businesses.
6. Healthcare and fitness businesses
Eligible healthcare and fitness enterprises may apply for financing to acquire approved equipment and improve their operations.
7. Education businesses
Eligible education-related businesses may include:
- Private educational service providers.
- Vocational training centres.
- Educational technology enterprises.
- Other qualifying education ventures.
8. Renewable energy businesses
Women-owned enterprises involved in renewable energy can explore financing for eligible productive activities.
Examples include:
- Solar energy solutions.
- Renewable energy equipment.
- Energy-related manufacturing.
- Solar installation businesses.
9. Other eligible business sectors
The official GLOW programme also identifies:
- Oil and gas value-chain businesses.
- Creative industries and entertainment.
- Eateries and cafeterias.
- Cold-chain businesses.
- Arts and crafts.
- Solid minerals processing.
- Leather production.
- Waste management.
- Tourism and hospitality.
The final decision depends on BOI’s assessment of the business and its proposed use of funds.
What Can the BOI GLOW Loan Be Used For?
The GLOW financing facility is designed to support productive business activities.
There are two major financing purposes.
Asset and equipment financing
Eligible applicants can request financing to purchase machinery, equipment and other assets required for production.
Examples include:
- Industrial sewing machines.
- Food-processing machines.
- Bakery equipment.
- Packaging machines.
- Manufacturing equipment.
- Production tools.
- Other approved business assets.
Working capital financing
Eligible businesses can also request working capital for purchasing raw materials needed for production.
For example, a bakery may need financing to purchase flour, sugar, packaging materials and other production inputs.
A garment manufacturer may require funding to purchase fabrics and other materials.
A food-processing business may need funds to purchase agricultural products for processing.
The proposed use of the financing should be clearly explained in the application and supported with appropriate quotations and business information.
Documents Required for the BOI GLOW Loan
Preparing your documents before starting the application is important.
The official GLOW portal provides different document requirements for registered business enterprises and limited liability companies.
Documents for registered business enterprises
The published application checklist includes:
- Certificate of Registration and business name registration form.
- Formal application letter on business letterhead.
- Feasibility report or business case.
- Pro-forma invoices or quotations for equipment and raw materials.
- One-year business enterprise or chief promoter’s bank statement.
- Acceptable means of identification.
- Curriculum Vitae of the business promoter and key management staff.
- Utility bill.
Other supporting documents include:
- Cash flow projections covering the facility period.
- Evidence of an unexpired factory or business premises lease, where applicable.
- Guarantor net-worth forms and evidence of assets owned.
- Guarantor identification documents and passport photographs.
- Passport photograph of the chief promoter.
- Relevant industry licences and regulatory approvals, where applicable.
- Estimated value of existing business assets.
- Payroll report.
- BOI Environmental and Social Assessment Questionnaire.
- Human Resources Policy.
Documents for limited liability companies
The requirements depend on the amount being requested.
For companies requesting less than ₦10 million, the published checklist includes:
- Certificate of Incorporation.
- Certified True Copy of CAC Form 2 showing allotment of shares.
- Certified True Copy of CAC Form 7 showing particulars of directors.
- Memorandum and Articles of Association.
- Formal application letter on company letterhead.
- Feasibility report or business case.
- Pro-forma invoices for equipment and raw materials.
- One-year company bank statement for existing businesses.
- Acceptable means of identification.
- Curriculum Vitae of the promoter and key management staff.
- Utility bill.
Additional documents may include:
- Recent company Tax Clearance Certificate.
- Recent Tax Clearance Certificates of two directors.
- Evidence of up-to-date CAC annual returns.
- Passport photographs of the chief promoter and directors.
- Cash flow projections.
- Evidence of business premises lease, where applicable.
- Guarantor net-worth documents.
- Guarantor identification.
- Applicable regulatory licences.
- Estimated value of existing assets.
- Payroll report.
- BOI Environmental and Social Assessment Questionnaire.
- Human Resources Policy.
For applications between ₦10 million and ₦50 million, additional company and financial documentation applies. Applicants should obtain the complete current checklist directly from BOI.
BOI GLOW Loan Guarantor Requirements
Another important consideration is the security and guarantor requirements.
The official GLOW programme publishes the following requirements:
| Loan amount | External security requirement |
|---|---|
| Below ₦5 million | One external guarantor |
| ₦5 million to ₦10 million | Two external guarantors |
| ₦10 million to ₦50 million | Bank guarantee or legal mortgage |
An executed Global Standing Instruction (GSI) mandate is also required.
The programme information also refers to an all-asset debenture on the borrower’s assets.
Who can serve as a guarantor?
BOI identifies the following categories of acceptable guarantors, subject to verification:
Civil servants: Civil servants on Grade Level 8 and above who satisfy the stated age and years-of-service conditions.
Bank employees: Confirmed bank employees meeting the applicable job-grade requirements.
Professionals: Qualified professionals such as doctors, lawyers, accountants and engineers.
Employees of reputable companies: Confirmed employees of reputable companies, international oil companies and telecommunications companies.
Registered business owners: Owners of businesses registered with the Corporate Affairs Commission.
Guarantors must provide supporting identification and a notarised statement of net worth acceptable to BOI.
Applicants should confirm the precise security arrangement for their proposed loan amount before submitting an application.
How to Apply for the BOI GLOW Loan Online in Nigeria
Women entrepreneurs interested in the GLOW programme can access the application information through the official Bank of Industry platform.
Official application website:
Follow these steps to get started.
Step 1: Visit the official GLOW portal
Open the official website at https://glow.boi.ng/.
Read the programme information and review the eligibility requirements before proceeding.
Step 2: Create your application account
Follow the registration instructions provided on the portal.
You may be required to provide personal and business information, including your BVN, NIN and CAC registration details.
Use accurate information that matches your official documents.
Step 3: Complete your business profile
Provide information about your business, including:
- Business name.
- Business registration number.
- Business location.
- Business sector.
- Nature of business activities.
- Business ownership details.
- Financing requirements.
Step 4: Prepare your business proposal
Prepare a feasibility report or business case explaining why your business needs financing.
Your proposal should include your business activities, target market, project costs, equipment requirements, expected revenue and repayment plan.
Step 5: Gather your supporting documents
Prepare the documents listed in the official BOI checklist.
Ensure that your business registration documents, bank statements, quotations and identification documents are accurate and readable.
Step 6: Submit your application
Complete the application according to the instructions provided on the official platform.
Review all information before submitting.
Step 7: Wait for verification and assessment
BOI may review your documents, assess your business, verify your information and request additional details.
The application may also undergo credit assessment before a financing decision is made.
Step 8: Review your offer letter
If your application is approved, carefully review the offer letter.
Check the approved amount, interest rate, repayment period, moratorium, security requirements and applicable charges.
Accept the offer only when you understand and agree to the conditions.
Step 9: Complete post-approval requirements
You may need to submit signed agreements, personal guarantees, GSI mandates and other documents required by BOI.
Disbursement is subject to meeting the conditions of the approved facility.
How Long Does It Take to Get the BOI GLOW Loan?
The processing period depends on several factors.
These may include:
- Completeness of the application.
- Accuracy of submitted information.
- Business verification.
- Credit assessment.
- Guarantor verification.
- Project appraisal.
- Approval procedures.
- Availability of programme funding.
BOI does not guarantee that every applicant will receive approval or disbursement within a specific number of days.
To reduce avoidable delays, submit complete documentation and respond promptly to requests for additional information.
Is the BOI GLOW Loan a Grant or a Loan?
The GLOW programme is a loan facility, not a free government grant.
Beneficiaries are expected to repay the financing according to the terms of their approved facility.
Although the programme offers a concessionary interest rate of 7% per annum, applicants must understand their repayment responsibilities before accepting the loan.
If you are searching for free business funding that does not require repayment, the GLOW programme is not a grant.
Does the GLOW Loan Require Collateral?
Yes. The GLOW programme has specific security requirements.
The requirements depend on the amount requested.
Applicants seeking smaller facilities may need one or two external guarantors, while larger facilities may require a bank guarantee or legal mortgage.
The programme also identifies a GSI mandate and additional security arrangements.
Do not assume that every applicant can obtain financing without security. Confirm the applicable requirements with BOI.
Benefits of the BOI GLOW Loan for Women Entrepreneurs
The GLOW initiative offers several potential benefits to eligible women-owned businesses.
1. Affordable business financing
The published 7% annual interest rate provides access to financing at a concessionary rate.
2. Business expansion
Businesses can obtain financing for eligible equipment, machinery and production materials.
3. Improved production capacity
Access to equipment can help businesses increase output and improve operational efficiency.
4. Mentorship and coaching
Beneficiaries can access guidance from experienced professionals and industry leaders.
5. Business development services
The programme provides support to improve business management and operational performance.
6. Practical business training
Capacity-building workshops can help entrepreneurs improve their financial and management skills.
7. Employment opportunities
Business expansion can support job creation and strengthen economic participation.
Common Mistakes to Avoid When Applying for the GLOW Loan
A good application should be accurate, complete and supported by realistic business information.
Avoid these mistakes:
- Submitting an incomplete business proposal.
- Providing incorrect CAC registration information.
- Requesting an unrealistic financing amount.
- Uploading unclear or incomplete documents.
- Failing to provide credible equipment quotations.
- Ignoring the guarantor and security requirements.
- Providing unrealistic financial projections.
- Failing to explain how the loan will be repaid.
- Applying for an activity excluded by the programme.
- Relying on unofficial agents who promise guaranteed approval.
A strong application should demonstrate that the business is viable and capable of meeting its repayment obligations.
Beware of Fake BOI GLOW Loan Agents
Whenever a business financing programme becomes popular, scammers may attempt to take advantage of people searching for financial assistance.
Some individuals may claim they can secure guaranteed approval in exchange for registration, facilitation or processing payments.
Protect yourself by following these precautions:
- Use the official Bank of Industry website.
- Never share your BVN, NIN or banking credentials with unverified individuals.
- Do not pay strangers for guaranteed approval.
- Avoid suspicious application links.
- Confirm information directly with BOI.
- Do not sign loan documents you do not understand.
The safest way to obtain programme information is through the official BOI website and its published customer support channels.
BOI GLOW Loan Contact Information
If you need assistance with the application, eligibility requirements or documentation, contact the Bank of Industry through its official channels.
Bank of Industry customer care
Telephone: 0700-CALL-BOI (0700 225 5264)
Email: [email protected]
Official website: https://www.boi.ng/
GLOW portal: https://glow.boi.ng/
You can also check BOI’s programme information and intervention funds portal for updates.
Frequently Asked Questions About the BOI GLOW Loan
1. What is the full meaning of GLOW in BOI?
GLOW means Guaranteed Loans for Women. It is a Bank of Industry financing initiative designed to support women-owned businesses in Nigeria.
2. How much can I borrow from the BOI GLOW Loan?
Micro enterprises can access up to ₦10 million, while eligible SME businesses can access up to ₦50 million, subject to BOI assessment and approval.
3. What is the BOI GLOW Loan interest rate in 2026?
The published interest rate is 7% per annum, inclusive of application processing fees, excluding applicable insurance and legal fees.
4. What is the official BOI GLOW registration portal?
The official dedicated GLOW website is https://glow.boi.ng/.
5. Can a woman who owns a small business apply?
Yes. Women-owned registered businesses can apply if they satisfy the programme’s sector, documentation and other eligibility requirements.
6. Can a woman apply for GLOW without CAC registration?
The programme requires business registration information. Applicants should ensure their business is appropriately registered with the Corporate Affairs Commission.
7. Can I use the GLOW Loan to buy equipment?
Yes. The facility supports eligible asset and equipment purchases required for business production.
8. Can I use the GLOW Loan for working capital?
Yes. Eligible businesses can request working capital for purchasing raw materials needed for production.
9. Is the BOI GLOW Loan available to traders?
Ordinary trading is excluded under the published programme conditions. The programme focuses on manufacturing, processing and other eligible value-adding activities.
10. Can a woman operating a bakery apply?
Yes. Bakeries and confectionery businesses are listed among the eligible business categories, subject to the applicable requirements.
11. Can women in agriculture apply for GLOW?
Eligible agribusiness and agricultural value-chain activities may qualify. However, primary agriculture is excluded, so applicants should confirm that their proposed activity involves an eligible value-adding operation.
12. Does the GLOW Loan require a guarantor?
Yes. Depending on the financing amount, applicants may need one or two external guarantors or a bank guarantee/legal mortgage.
13. How many years do I have to repay the GLOW Loan?
Term loans have a maximum tenor of five years, while working capital facilities have a maximum tenor of three years.
14. Is the BOI GLOW Loan a government grant?
No. It is a repayable financing facility, not a free grant.
15. Can a woman who already has an operating business apply?
Yes. Existing women-owned businesses can apply if they meet the programme requirements.
16. Does the GLOW programme provide mentorship?
Yes. BOI identifies mentorship, coaching, capacity-building workshops and strategic business development services as additional programme support.
17. Is there a guaranteed approval period?
No universal approval or disbursement timeline is guaranteed. Processing depends on verification, credit assessment and the applicable approval procedures.
18. Can I apply for the GLOW Loan if my business is not yet profitable?
An applicant’s business and repayment capacity will be assessed by BOI. A detailed and realistic business proposal is important, but approval is not guaranteed.
Final Thoughts: Is the BOI GLOW Loan Worth Applying For?
The Bank of Industry GLOW Loan provides an opportunity for eligible Nigerian women entrepreneurs to access business financing at a published interest rate of 7% per annum.
With financing limits of up to ₦10 million for micro enterprises and ₦50 million for eligible SMEs, the initiative can help women-owned businesses purchase machinery, acquire production equipment, obtain raw materials and expand their operations.
The additional support through mentorship, business development and capacity-building programmes also makes the initiative worth exploring.
If you operate an eligible women-owned business and need financing to improve production or expand your operations, consider reviewing the programme requirements and preparing your application documents.
Visit the official GLOW website:
Read the terms carefully, prepare your business proposal, provide accurate information and apply through the official Bank of Industry channels.
Remember: a well-prepared application does not guarantee approval, but it helps demonstrate the viability and financing needs of your business.
