OYSG SME/MSME Development Fund Loan Scheme

OYSG-BOI SME Loan Scheme

The partnership between the Oyo State Government and the Bank of Industry on OYSG-BOI MSMEDF Loan Scheme started in year 2012 with the contribution of a sum of Five Hundred Million Naira (N500M) as matching fund by the two parties.

The Scheme was intended to provide access to fund for start-ups, SMEs, and large enterprises with the BOI as the managing partner of the fund with a 5% interest rate per annum. The scheme is one of the best in the country as the State Government does not charge any interest on the loan given. The 5% accruing interest is for the Bank of Industry.

There is no doubt that the OYSG-BOI MSMEDF Loan Scheme has helped to grow the cottage industry in the State as  over 800 Million Naira has been injected into the sector through fund disbursement to about 200 companies/firms and creation of more than 1,000 jobs within the State.

The liberal condition attached to the loan has made beneficiaries to shower encomiums on the OYSG, hence the motivation for the scheme to continue.

To access this 1 billion revolving fund by OYSG and BOI, kindly log on to the loan portal (provide link) to fill in your details and pay online.

OYSG MSME Loan Scheme

The CBN-OYSG MSME Development Loan Scheme started in year 2014 when Oyo State Government approached Central Bank of Nigeria (CBN) for an Intervention fund of N2 billion for business growth in the state with a foresight to create more employment for people throughout Oyo State. The N2 billion was disbursed through Micro Finance Banks at a single digit interest rate of 9% to help Macro, Micro, Small, Medium enterprises in the State.

Two tranches of loan disbursement have been done in the past 5 years via 4 Microfinance Banks. A N1 billion loan scheme solely funded by OYSG is now available as an ongoing initiative for MSMES and to be a benefactor we have introduced a more efficient online registration system where you are to fill your details and pay for the forms online. OR you can Click here to Download MSME Form.

How to Apply

Step 1 : REGISTRATION

Click on Register to create an account and fill out the fields, make sure your password is strong. Kindly ensure you choose the loan scheme you want apply for.

Step 2 : VERIFICATION

 Check your mail to verify and click on the button to return back to the Log- in page.

Step 3 : PAYMENT

 Click on Make Payment in your Dashboard and pay with you card.
Your receipt will be sent to your mail. Your payment will be confirmed to continue your registration
1. FILE UPLOAD: Upload the required document before you submit
2. TRACKING: You can track your payment and your loan with your tracking ID. The tracking ID will be generated and sent to your mail.
3. Completion: Complete the from by click apply, preview and submit

FAQ

Can I apply for both Loan Scheme at the same time?

You can apply for one a time because your payment covers a single loan scheme.

How do I know when my payment is confirmed?

Your receipt would be sent to your mail and the loan tracking ID

How can I pay for my form?

 Click on make payment and enter the amount to  paid. You will be required to enter your card detail and confirmation will be sent to you and receipt to your mail.

How do I know know if my application is approved or denied?

You will received an email from us, you can also make use of your Tracking ID to monitor your loan status,

What is the climatic condition of the State?

The Climate in Oyo State is equatorial, notably with dry and rainy seasons with relatively high humidity. The dry season lasts from November to March while the rainy season starts from April and ends in October. Average daily temperature ranges between 25 °C (77.0 °F) and 35 °C (95.0 °F), almost throughout the year.