GLOW (Guaranteed Loans for Women), a new initiative by the Bank of Industry (BOI), has been introduced as a transformative solution to support women-owned businesses across sectors. The program, called Guaranteed Loans for Women, is designed to provide real tools, real support, and real impact for female entrepreneurs in Nigeria.
According to BOI, GLOW is “more than a financial product — it is a transformative solution built to ignite the growth of women-owned businesses across sectors. Whether you’re just starting out or scaling up, GLOW is here to champion your journey.”
The Bank of Industry highlighted that women’s economic empowerment remains a key part of national growth. As part of its gender inclusion policy, BOI has identified gender as one of its core thematic areas and created a Gender Business Desk. The bank explained that it is “taking intentional steps to embed gender considerations across its operations and policies” while also building partnerships that strengthen opportunities for women.
The initiative offers affordable and flexible loans, mentorship, and expert-led training to women entrepreneurs. BOI stated that women-owned businesses will benefit from financing tailored to their specific needs, along with business development support, hands-on capacity-building programs, and coaching from industry leaders.
The financial package is structured to provide micro enterprises with up to N10 million and small and medium enterprises with up to N50 million. The tenor is set at a maximum of five years, while the interest rate stands at 7% per annum. BOI described the loan rate as “Uncommon Rate. Smart Decision.”
Eligibility for the program requires that businesses be women-owned, with at least 30 percent of women in senior leadership roles, on the board, or in the investment committee. The target market includes registered limited liability companies and enterprises in key sectors such as manufacturing and processing, ICT, oil and gas value chains, creative industry, agribusiness, healthcare, education, renewable energy, eateries, cold chain business, arts and crafts, solid minerals, aquaculture, leather, garmenting, bakeries, raffia palm processing, waste management, and tourism.
Interested applicants can access the program through the official portal by visiting iprogrammes.boi.ng to register and apply.