23, Marina, Lagos, Nigeria
+(234) 7002255264

SME Consultants

BUSINESS DEVELOPMENT SERVICE PROVIDERS – BDSPs (or SME CONSULTANTS)

BACKGROUND

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 appointed 324 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 BDSPs are categorized into 3; National, Regional and State based on coverage area, geographical spread/presence and technical capabilities.

S/NO COVERAGE NUMBER OF SME Consultants
1 NATIONAL   96
2 REGIONAL/ZONAL 203
3 STATE   25
TOTAL 324

 

The BDSPs are expected to provide the following services:

–   Collaborating with BOI to identify credible SMEs that require finance;

–   Assisting SMEs in the development of bankable business plans and proposals towards accessing finance at BOI (guided by BOI’s Risk Acceptance Criteria);

–   Collaborating with BOI to conduct periodic post-finance monitoring of the SMEs, as required.

–   Other services are to 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 will be paid a fee for supporting SME’s by preparing their business plans and loan applications to BOI.

There are two (2) types of fees payable to the BDSPs as follows;

1.  Initial Fees (Payable by the SMEs):

S/N LOAN AMOUNT (N) FEES
1 Up to N10million N10,000
2 Above N10million to N50million N25,000
3 Above N50million to N200million N50,000
4 Above N200million to N400million N100,000
5 Above N400million to N600million N150,000
6 Above N600million to N800million N200,000
7 Above N800million to N1 Billion N250,000

 

2. Success Fees (Payable by BOI when the loan is approved/disbursed):

S/N LOAN AMOUNT (N) SUCCESS FEES (%) MINIMUM

FEE (N)

MAXIMUM FEE (N)
1 Up to N200million 1% N/A  N2.0m
2 Above N200million to N400million 0.8% N2.0m  N3.2m
3 Above N400million to N600million 0.7% N3.2m  N4.2m
4 Above N600million to N800million 0.6% N4.2m  N4.8m
5 Above N800million to N1 Billion 0.5% N4.8m  N5.0m
NOTE:

1.     The fee for any BDSP shall be the success fee as applicable to the loan amount or the maximum fee in the preceding band, whichever is higher.

 

2.     50% of Success Fee is paid at loan approval stage and another 50% at loan disbursement stage.

 

NATIONAL BDSPs              STATES BDSPs           NORTH CENTRAL BDSPs         NORTH WEST BDSPs

NORTH EAST BDSPs    SOUTH SOUTH BDSPs    SOUTH WEST BDSPs            SOUTH EAST BDSPs

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