How to Apply for the BOI GLOW Fund 2026: Get Up to ₦50 Million Loan at 7% Interest

 

Access to affordable business finance remains one of the biggest hurdles facing women entrepreneurs in Nigeria. While many women run profitable businesses, expanding those businesses often requires capital that commercial banks may not offer on favourable terms.

To help close that gap, the Bank of Industry (BOI) introduced the Guaranteed Loans for Women (GLOW) Programme. The initiative provides low-interest financing and business support to women-owned and women-led enterprises across different sectors of the economy.

Unlike many conventional business loans, the GLOW Fund offers a single-digit interest rate, flexible financing options and business development support designed to help women grow sustainable businesses.

If you’re planning to apply, this guide explains everything you need to know, including the eligibility requirements, loan amount, interest rate, required documents and the official application process.

What Is the BOI Guaranteed Loans for Women (GLOW) Programme?

The Guaranteed Loans for Women (GLOW) Programme is a ₦10 billion financing initiative established by the Bank of Industry to improve access to funding for women entrepreneurs in Nigeria.

The programme supports businesses that are owned or managed by women by providing affordable loans and business advisory services. It aims to remove some of the financial barriers that prevent many women from starting, expanding or strengthening their businesses.

Apart from providing access to finance, the programme also encourages business sustainability through capacity development and entrepreneurship support.

Is the GLOW Fund a Grant?

No.

The GLOW Programme is not a grant.

It is a business loan that approved applicants are expected to repay according to the agreed repayment terms.

However, the loan comes with a much lower interest rate than many commercial business loans, making it one of the more affordable funding opportunities available to women entrepreneurs.

How Much Can You Borrow?

The amount available depends on the size and nature of your business.

The final amount approved depends on BOI’s assessment of your business, repayment capacity and funding needs.

Interest Rate and Loan Charges

One of the major attractions of the GLOW Programme is its affordable pricing.

Successful applicants may enjoy:

• 7% interest per annum
• No appraisal fee
• No commitment fee
• No monitoring fee for eligible categories

These terms make the programme considerably cheaper than many commercial lending options available to small businesses.

Businesses That Can Apply

The programme is open to women-owned or women-led businesses operating across several sectors of the Nigerian economy.

Eligible businesses may include:

• Agriculture
• Poultry farming
• Fish farming
• Food processing
• Manufacturing
• Fashion and tailoring
• Beauty salons
• Cosmetics businesses
• Healthcare services
• Private schools
• ICT companies
• Software development
• Digital marketing agencies
• E-commerce businesses
• Creative enterprises
• Photography studios
• Event planning businesses
• Renewable energy companies
• Waste recycling businesses
• Retail businesses
• Wholesale trading
• Professional service firms

Businesses that create employment and contribute to economic development may receive priority during assessment.

Who Can Apply?

Applicants are generally expected to meet the following conditions:

• Be a Nigerian citizen.
• Be a woman who owns or manages a business.
• Operate a legitimate business in Nigeria.
• Have a valid National Identification Number (NIN).
• Have a valid Bank Verification Number (BVN).
• Provide accurate business information.
• Meet BOI’s credit assessment requirements.

Where applicable, registered businesses may also be required to provide their Corporate Affairs Commission (CAC) registration details.

Documents Required

Before starting your application, it is advisable to have the following documents and information ready:

• National Identification Number (NIN)
• Bank Verification Number (BVN)
• Valid means of identification
• Passport photograph (if requested)
• Active phone number
• Active email address
• Residential address
• Business address
• Business description
• CAC registration certificate (where applicable)
• Financial records or business statements if requested
• Valid bank account details

Having these documents available can help you complete your application without unnecessary delays.

Security and Guarantor Requirements

Unlike many conventional business loans, the GLOW Programme adopts more flexible security arrangements.

Depending on the loan amount and business category, BOI may request one or more of the following:

• Personal guarantee
• Guarantor
• Business guarantee
• Asset debenture
• Other acceptable security approved by BOI

The security requirement varies according to the amount requested and the outcome of the credit assessment.

How to Apply for the BOI GLOW Fund

Applications are submitted online through the official Bank of Industry GLOW portal.

Step 1: Visit the Official Portal

Open your browser and visit the official registration portal:

https://glow.boi.ng/register

For your security, submit your application only through the official BOI portal. Applicants may be required to provide personal information, including their NIN and BVN, for validation. Entering these details on unofficial websites could expose you to fraud or identity theft.

Step 2: Create Your Account

Register by providing your basic information.

You may be required to supply your email address, phone number and create a secure password.

Step 3: Verify Your NIN and BVN

The portal will request your National Identification Number (NIN) and Bank Verification Number (BVN).

These details are used to verify your identity.

Ensure the information matches your bank records to avoid verification issues.

Step 4: Complete Your Personal Profile

Fill in your personal details carefully.

This includes your:

• Full name
• Date of birth
• Residential address
• Contact information

Review every entry before moving to the next stage.

Step 5: Provide Your Business Information

Next, enter details about your business.

You may be asked to provide:

• Business name
• Business sector
• Business location
• Nature of operations
• Years in operation
• Number of employees
• Estimated annual turnover

Provide accurate information throughout the application.

Step 6: Upload Required Documents

Upload any documents requested on the portal.

Ensure all uploaded files are clear and easy to read.

Blurry or incomplete documents may delay the assessment of your application.

Step 7: Review Your Application

Before submitting, go through every section carefully.

Confirm that your:

• NIN
• BVN
• Phone number
• Email address
• Business information

are all correct.

Correcting errors after submission may not be possible.

Step 8: Submit Your Application

Once you are satisfied that every detail is accurate, submit your application through the portal.

You should receive a confirmation that your application has been successfully submitted.

Step 9: Wait for BOI Assessment

After submission, the Bank of Industry will review your application.

Applicants may be contacted if additional documents or clarification are required.

Successful applicants will receive further communication on the next stage of the loan process.

What Happens After You Submit Your Application?

Submitting your application does not mean the loan has been approved immediately. Every application goes through a review process before a decision is made.

BOI may carry out identity verification, assess your business information and determine whether your business meets the programme’s lending requirements.

Depending on the application, you may also be asked to provide additional documents or clarification before a final decision is reached.

If your application is successful, BOI will contact you with the next steps, including the loan offer and other requirements that must be completed before the funds are released.

Is the BOI GLOW Application Portal Open?

Yes.

The BOI GLOW registration portal is currently open for eligible women entrepreneurs.

Applications can be submitted online through the official portal:

https://glow.boi.ng/register

Applicants are encouraged to complete their registration early rather than waiting until there is increased demand on the portal.

Is There a Closing Date?

At the time of writing, the Bank of Industry has not announced an official closing date for the GLOW Programme.

Since funding opportunities can change without much notice, eligible applicants are advised to apply as soon as possible while the portal remains active.

Common Mistakes That Can Delay Your Application

Many business loan applications are delayed because of avoidable errors.

Before submitting your form, make sure you avoid these common mistakes:

• Providing different names on your NIN, BVN and bank account.
• Entering an incorrect phone number or email address.
• Supplying incomplete business information.
• Uploading unclear or invalid documents.
• Applying more than once using different details.
• Giving false information about your business or income.

Taking a few extra minutes to review your application can save you from unnecessary delays later.

How to Improve Your Chances of Getting Your Loan Approved

Although approval depends on BOI’s assessment, there are practical steps you can take to strengthen your application.

These include:

• Ensure your NIN and BVN records match exactly.
• Use an active email address and phone number.
• Describe your business honestly.
• Keep proper business records where available.
• Explain clearly how you intend to use the loan.
• Respond promptly if BOI contacts you for additional information.
• Submit only genuine documents.

Providing accurate information makes it easier for your application to be assessed.

Important Things to Know Before Applying

Before you begin your application, keep these points in mind:

• The GLOW Programme is a loan, not a grant.
• Approved applicants are expected to repay the loan according to the agreed terms.
• Applications should be submitted only through the official BOI portal.
• There is no official application fee.
• Be cautious of anyone requesting payment in exchange for guaranteed approval.

Using unofficial websites or dealing with third parties may expose you to fraud.

Frequently Asked Questions

Is the BOI GLOW Fund a grant?

No. It is a business loan designed for women entrepreneurs. Approved beneficiaries are required to repay the loan under the agreed repayment schedule.

Can startups apply?

Yes. Startups and existing businesses may apply if they satisfy the programme’s eligibility requirements and meet BOI’s assessment criteria.

Can registered companies apply?

Yes. Registered companies are eligible. Applicants may be required to provide their CAC registration details during the application process.

Can I apply without a CAC certificate?

Some businesses may apply without CAC registration, depending on the nature and size of the business. However, registered businesses should provide their CAC details where applicable.

Is collateral compulsory?

Security requirements depend on the loan amount and the outcome of BOI’s credit assessment. Some applicants may be required to provide guarantees or other acceptable security.

Is there an application fee?

No. BOI does not charge applicants simply to register for the GLOW Programme. If anyone requests payment to process your application or guarantee approval, treat it as a warning sign.

How long does approval take?

BOI has not published a fixed timeline. The duration varies depending on the volume of applications and the assessment process.

Can I apply if I already have another BOI loan?

Your eligibility may depend on your existing loan status and credit assessment. Applicants with unresolved loan obligations may be required to settle them before being considered.

Before you submit your form, check that your NIN, BVN and business details are correct, and avoid anyone promising guaranteed approval in exchange for money. Applying through the official channel and providing accurate information gives your application the best chance of moving smoothly through the assessment process.

At Zoeeb, we are committed to publishing accurate, verified and up-to-date information. Every guide is prepared using official announcements, government publications and verified institutional sources. Because programmes, deadlines and eligibility requirements may change, applicants should always rely on the relevant official portal for the most current information before submitting an application.