|PURPOSE/ RATIONALE||· Promotion of family entertainment facilities in one location.
· Development of tourism.
· Promotion of foreign exchange earnings by attracting tourists from other parts of the world.
· Employment generation.
· Provision of long-term funding at a reasonable cost thereby improving its competitiveness.
· There is need for Nigeria to develop its tourism industry in line with the Federal Government’s effort to diversify the economy.
|The fund will be accessed by limited liability companies with requisite experience and/or relevant technical partnership|
|PROJECTED IMPACT||Each project along the value chain is expected to create between 50 and 250 jobs.|
|SINGLE OBLIGOR LIMIT||
|Interest Rate: 9 % per annum.
Fees: 1% each for Appraisal and Commitment Fees
|MORATORIUM||6 – 12 months (from date of loan disbursement depending on the implementation period).|
|COLLATERAL/ SECURITY ARRANGEMENT||
|· Loan: 80% maximum (including working capital from BOI or the SME-friendly banks).
· Contribution by the promoter – 20% (minimum).
· In phases in accordance with agreed milestones and shall be backed by provision of performance bond issued by a commercial bank or a BOI accredited insurance company, on behalf of the BOI accredited equipment supplier, where the supplier demands for advance payment before delivery of the equipment).
· Establishment of Letters of Credit where the plant and machinery are to be imported.
After successful installation and testing of the equipment and payment shall be made directly to raw materials suppliers
- About BOI
- Matching Fund
- Managed Fund
- BOI Products
- Adire Kampala And Aso Oke
- Bottom of pyramid
- Block Moulding
- Cottage Agro Processing Fund
- Cosmetics and Beauty Care Products
- Fashion Fund
- Furniture Product Programme
- Fish Farming & Pprocessing
- Graduate Entrepreneurship Fund
- Theme Park
- Leather Footwear
- Waste Recycling
- Quick Service Restaurant
- Customer Care
- Media Room
- Contact Us
- Quick Links
- BOI Resource Links
- 2014 Annual Report
- 2015 Annual Report
- Access to Finance Test (A-Z)
- SME Consultants
- Hall Of Fame
- Hall of Shame
- MSME’s Definition
- Online Store
- SME Customer Portal
- Policy Statement on Fraud and Corruption
- Graduate Entrepreneurship Fund Enrollment Form
- Environmental And Social Risk Policy Compliance
- Project Disclosure
- YOUTH ENTREPRENEURSHIP SUPPORT PROGRAMME (YES-PROGRAMME)
- External Resource Links
- BOI Resource Links