The Bank of Industry (BOI) has returned some applications on its new MyBOI Portal, asking applicants to provide additional documents before processing continues.
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The development is reflected in messages sent to applicants after review. One applicant received an email stating that the application had been returned for further clarification and/or additional documentation.
In the case shown, BOI requested a valid identification document, complete Corporate Affairs Commission (CAC) documents and a Curriculum Vitae (CV). The portal also directs applicants to upload documents in the designated sections of their applications.
The return status does not mean the application has been finally rejected. According to the MyBOI Portal Frequently Asked Questions (FAQ), a returned application means corrections, clarification or additional information are required before review can continue. Applicants can edit returned applications and resubmit them, while their previous inputs are retained.
BOI’s portal provides facilities for customers to apply for, track and manage BOI financing applications. The bank says applicants must complete required information and upload supporting documents before an application can be processed.
The official document checklist also includes identification documents, CAC records and CVs among requirements for various categories of BOI facilities. The exact documents required may differ according to the type and size of facility being requested.
How to check
Applicants should log in to the MyBOI Portal and check their application dashboard for the current status and notifications. If the application shows “Returned”, applicants should open the application, review BOI’s comments, upload the requested documents in the appropriate sections and correct any identified information before resubmitting it.
BOI says the dashboard displays application status and notifications, including Submitted, Under Review, Returned, Approved, Declined, Disbursed and Completed.
