  In this paper, we address the implications when a homogeneous dust model is
considered for a scenario of gravitational collapse in the context of
Eddington-inspired Born-Infeld (EiBI) theory. In order to describe the
dynamical evolution of the collapse, we present an effective equation, which
constitutes the first order corrections, in EiBI coupling parameter $\kappa$,
to Einstein's field equations. The geometry outside the collapsing object is
derived by imposing the standard Darmois-Israel junction conditions at the
boundary surface of the dust. This induces an effective matter source in the
outer region which gives rise to a non-singular, non-Schwarzschild geometry at
the final state of the collapse. For this exterior geometry, we find the
threshold of mass for the formation of the black hole. This provides a cut-off
over $\kappa$ as $|\kappa|=5.1\times10^{-97} ~kg^{-1}\cdot m^3$.
