Business Advisory
Providing financing to sectors of the Nigerian economy.
We are an efficient, focused and profitable institution that is well placed to effectively carry out its primary mandate of providing long-term low-interest financing to the industrial sectors of the Nigerian economy.
ABOUT BUSINESS ADVISORY
In a bid to address the challenge of access to credit by SMEs, and to hasten the credit delivery process, the Bank of Industry (BOI) Limited has so far appointed 416 SME Consultants as Business Development Service Providers (BDSPs).
This strategic partnership with SME Consultants is in furtherance of the Bank’s core mandate “of providing long-term financial and business support services to micro, small and medium projects”.
The 416 BDSPs are categorized into 3 broad groups; National, Regional and State based on coverage area and geographical spread as follows:
286
REGIONAL/ZONAL
CONSULTANTS
105
NATIONAL SME
CONSULTANTS
25
STATE
CONSULTANTS
-
The BDSPs are expected to provide the following services:
- Identify credible SMEs that require BOI finance
- IAssist SMEs in developing bankable business plans towards accessing finance from BOI (guided by BOI’s Risk Acceptance Criteria)
- IProvision of post-finance services such as mentorship, hand-holding, financial advice and encourage SMEs to imbibe corporate governance
- ISupport SMEs to develop synergies and linkages with large enterprises, industrial buyers and suppliers along the value chain
Roles of BDSPs
Technology Adaptation
Technology Adaptation
Networking & Linkages
Networking & Linkages
Regulatory Compliance
Regulatory Compliance
Business Advisory Services
Business Advisory Services
Training and
Capacity Building
Training and
Capacity Building
Market Research
& Analysis
Market Research
& Analysis
Access to
Finance
Access to
Finance
Entrepreneurial
Development
Entrepreneurial
Development
BDSP Engagement Fees (Payable by the SMEs at the point of contracting the BDSPs)
| Loan Band (₦) | Success Fees (%) |
|---|---|
| Up to 10 million | 50,000 |
| Above 10 Million to 50 Million | 75,000 |
| Above 50 Million - 200 Million | 100,000 |
| Above 200 Million - 400 Million | 150,000 |
| Above 400 Million - 600 Million | 200,000 |
| Above 600 Million - 800 Million | 250,000 |
| Above 800 Million - 1 Billion | 300,000 |
| Above 1 Billion - 1.2 Billion | 350,000 |
| Above 1.2 Billion - 1.4 Billion | 400,000 |
| Above 1.4 Billion - 1.6 Billion | 450,000 |
| Above 1.6 Billion - 1.8 Billion | 500,000 |
| Above 1.8 Billion - 2 Billion | 550,000 |
BDSP Success Fees (Payable by BOI to the BDSPs in two tranches of 50% each at the points of approval and disbursement)
| Loan Band (₦) | Success Fees (%) | Minimum Fees (₦) | Maximum Fees (₦) |
|---|---|---|---|
| Up to 200 Million | 1% | N/A | 2.0M |
| Above 800 Million - 1 Billion | 0.50% | 4.8M | 5.0M |
| Above 600 Million - 800 Million | 0.60% | 4.2M | 4.8M |
| Above 400 Million - 600 Million | 0.70% | 3.2M | 4.2M |
| Above 200 Million - 400 Million | 0.80% | 2.0M | 3.2M |
| Above 1.8 Billion - 2 Billion | 0.33% | 6.3M | 6.5M |
| Above 1.6 Billion - 1.8 Billion | 0.35% | 6.0M | 6.3M |
| Above 1.4 Billion - 1.6 Billion | 0.38% | 5.6M | 6.0M |
| Above 1.2 Billion - 1.4 Billion | 0.40% | 5.4M | 5.6M |
| Above 1 Billion - 1.2 Billion | 0.45% | 5.0M | 5.4M |
The success fee shall be as applicable for the approved loan amount or the maximum fee in the preceding band, whichever is higher.
BDSP FAQs
Do you have questions? We have answers.
A BDSPs is a strategic partner engaged by Bank of Industry (BOI) to guide and support SMEs seeking BOI financing, to package their loan applications properly thereby improving their chances of successfully accessing credit. BDSPs also offer business management and advisory services to customers.
- Assisting SMEs in the development of bankable business plans and proposals towards accessing finance at BOI (guided by BOI’s Risk
- Acceptance Criteria);
Provide post-finance services such as mentorship, hand-holding, financial advice and encourage SMEs to inculcate best practice; - Supporting SMEs to develop synergies and linkages with large enterprises, industrial buyers and suppliers along the value chain.
The BDSPs are categorized into 3 broad groups; National, Regional and State based on coverage and geographical spread. The full list of Names and locations of BOI’s accredited BDSPs is available on the BOI’s website
Bank of industry primarily finances projects involved under manufacturing, production and agro processing.
The BDSP assists prospective customers in writing their business plan, packaging the required supporting documents and submitting loan applications to BOI.
This involves engaging with the BDSP for assistance, preparing necessary documentation, and having the BDSP submit the loan application to BOI on behalf of the prospective customer, along with a covering letter from the BDSP.
BDSPs are tasked with providing services to new micro, small, and medium-sized customers in all eligible sectors up to a maximum of N2billion.
The list of accredited BDSPs can be found on the BOI website. https://www.boi.ng/updated-bdsp-list-2/
It is not mandatory to engage a Business Development Service Provider (BDSP) when applying for a BOI loan. A prospective customer can also approach BOI directly. However, a BDSPs involvement can significantly facilitate and streamline the application process.
No, your BDSP and your Relationship Officer are not the same. While your BDSP assists with the loan application process, you will be assigned a Relationship Officer who is a BOI staff and who will contact you within 48 hours after the application is submitted. While your BDSP may help with follow-ups on your application, your Relationship Officer will be the primary source for any updates or new information regarding your loan application after submission.
Your Relationship Officer oversees the entire loan process, from appraisal, approval to disbursement, monitoring implementation and collection.
- Identify and contact one or more of the selected BDSPs from the list of accredited BDSPs on the BOI website via email, phone, or in-person meetings to express your interest in their services.
- Schedule an initial meeting with the BDSP to discuss your business needs, objectives, and challenges.
- Evaluate the BDSP’s expertise, experience, and track record in assisting businesses similar to yours.
- If you agree to work with a BDSP, formalize the arrangement through a written appointment letter outlining roles, responsibilities, and expectations.
- Maintain regular communication with the BDSP to monitor progress, address any issues, and ensure alignment with your business goals.
Success fees are fees paid to BDSPs by BOI upon securing a loan approved
BOI is responsible for paying success fees to the BDSPs.
Success Fees are payable by BOI to BDSPs in two tranches of 50% each at the points of approval and disbursement of a loan.
In the event of any dispute between a prospective customer and a BDSP, the customer should send an email to businessdevelopmentgroup@boi.ng or businessdevelopment@boi.ng for resolution.
