In a bold move to narrow Nigeria’s gender financing gap, the Bank of Industry (BOI) has launched a new fund named GLOW (Guaranteed Loans for Women), offering up to ₦50 million in guaranteed loans to women-owned and women-led businesses across the industry sectors.
This initiative is poised to support female entrepreneurial ambitions — particularly in MSMEs (micro, small & medium enterprises) — by tackling the usual barriers of collateral and access to capital.
Why GLOW Matters for Women Entrepreneurs
For many women in business, securing funding is often the toughest challenge — not because their ideas lack merit, but because traditional lenders demand collateral or risk profiles that many small female-led ventures can’t meet. With GLOW:
- The loan structure is “guaranteed” or concessionary, reducing or removing strict collateral requirements.
- It is specifically tailored for women entrepreneurs, ensuring that female business owners aren’t sidelined by more general credit schemes.
- The aim is to improve access to credit, accelerate business growth, and create jobs among women-led enterprises.
- Additional support includes mentorship, boosting visibility in the business ecosystem, and helping recipients scale sustainably.
- By doing so, BOI hopes to strengthen women’s participation in the economy and drive inclusive economic growth.
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Who Qualifies & How to Apply
To be considered for a GLOW loan, applicants must:
- Be a woman entrepreneur (owner or leader of a business) operating in Nigeria.
- Run a registered enterprise with verifiable documentation (e.g. CAC registration, business plan).
- Demonstrate that the business has growth potential, sustainability, and will use funds for expansion (not unrelated personal use).
Application Process
- Applications are to be submitted through BOI’s official portal (BOI’s programme page).
- Applicants should ensure their business information is accurate and that all supporting documents are ready and complete.
- No fixed deadline is stated in the announcement — so early application is advised.
For further support or inquiries, applicants can contact BOI’s helpdesk or visit the official BOI website.
How to Apply
Interested women entrepreneurs are encouraged to apply via the official BOI portal below:
Apply Here
Ensure your business information is accurate and your supporting documents are complete before submission.
