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Who is a BDSP (Business Development Service Provider)?

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.

What services do BDSPs offer to prospective 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.
What are the categories of BDSPs?

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.

What is an engagement fee and how much does it cost?

The customer shall pay to the BDSP an engagement fee as a demonstration of its commitment to the engagement of the BDSP. This fee shall be paid at the point of contracting the BDSP as follows


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How can BDSPs assist me with my business?

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.

Are BDSP services available for all types of businesses?

BDSPs are tasked with providing services to new micro, small, and medium-sized customers in all eligible sectors up to a maximum of N2billion.

How do I find a BDSP that suits my business needs?

The list of accredited BDSPs can be found on the BOI website. https://www.boi.ng/updated-bdsp-list-2/

Is it mandatory to use a BDSP for BOI loan application?

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.

Is my BDSP my Relationship Officer?

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.

What is the role of my Relationship Officer?

Your Relationship Officer oversees the entire loan process, from appraisal, approval to disbursement, monitoring implementation and collection.



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