Small and Medium Enterprise

Facilitating the Growth & Development of Small and Medium Enterprises

The Small and Medium Enterprises Directorate has a focus on developing sustainable SME Business Models that will assist to unlock the inherent potential of the SME sector to improve SMEs’ contribution to national economic growth, job creation, resource endowment value chain development, skills and entrepreneurial development poverty alleviation, exports expansion, import substitution and overall GDP growth.

It is our resolve at the Bank and in collaboration with our strategic partners to develop products, as well as provide both Financial and Business advisory services/support. These are offered by the Bank at a cheaper rate and at close reach through the SME directorate network of state offices spread across the country.

Small and Medium Enterprise Group

The Directorate’s activities are executed along two strategic groups

Lending Services

We take advantage of our knowledge of the business environment and footprint across 30 Business Offices, spread across the six geopolitical zones including the FCT, to offer SMEs loans with longer tenors (3-5 years) than are generally available and offered at below market rates; along with a moratorium period of 3-12 months.

These facilities are provided to duly registered business entities operating along the value chains of the various sectors with high potentials for entrepreneurship development, employment generation and skills acquisition.

Our lending products are tailored to meet the financing needs of SMEs in the short, medium to long term and are delivered in 4 ways:

  • Project Based Lending
  • Cluster-Based Product Programmes
  • On-lending Facilities through Commercial Banks and Microfinance Banks under the Bottom of the Pyramid (BOP) Programme
  • Special Intervention Funds

Business Advisory Services

The SME Directorate leverages its in-house talents, partnership with Local and international Development Organisations (IDOs), national private sector-oriented SME support institutions and service-focused Ministries, Departments and Agencies (MDAs) in government, to provide relevant information/resources and guidance in areas such as financial management, business planning, entrepreneurial development, value chain financing, agro-processing methods, corporate governance and business linkages, to enhance the capacity of owners/managers of SMEs.


We Create Convenient and Valuable Opportunities for Businesses in Nigeria

  • Our loan terms are concessionary and provided to ensure the greatest levels of success for our beneficiaries.
  • The Bank offers extended repayment periods to give businesses ample time to repay loans and minimize default.
  • We offer sector-specific loans which are tailored to the unique needs of micro-enterprises, SMEs operating along those value chains.
  • Apart from financing, we create and leverage our partnerships with other stakeholders to provide capacity building opportunities for improved business performance as businesses also require entrepreneurship and management skills to succeed.
  • The Bank delivers strategic support and financing to the disadvantaged and vulnerable segments within the grassroots that are typically underserved but critical to economic prosperity.

SME Products

Facilitating the Growth & Development of Small and Medium Enterprises


In 2021 alone, the SME Directorate obtained approval for 573 customers with a combined value of N60.79 billion in spite of the COVID-19 Global pandemic and its negative impact on businesses. We continue to use our branch network to significantly improve the Bank’s SME loan portfolio and impact across all the Geo political zones of Nigeria; by deploying bespoke and demand-driven financial products and proactive support services that will catalyse SME growth and development in the country.


Frequently Asked Questions on Enterprise Products

Browse through our repository of answers to our frequently asked questions. Should you not find a conclusive answer to any of your questions, please book a consult by filling out the form on the right and we will get in touch with you.

Does BOI have an App?

This will be launched soon.

How do I apply for a BOI loan?

Loans can be applied for either physically or online. For physical application, customers are advised to apply either at any of the BOI branch offices that is closest to them or at the headquarters (for loan applications that are N1bn and above). Customers who want to apply online can do so by applying on the bank’s website or by clicking the link to apply.

What do I have to do to ensure that my project is eligible for financing?

There are criteria that must be met for a project to be eligible for financing. These include:

  1. Businesses must be registered with the Corporate Affairs Commission (CAC)
  2. Businesses must have their audited financial statements (if existing)
Where do I submit my loan application?

All loan applications are submitted at the various state offices closest to the customer. However, it is IMPORTANT TO NOTE that processing of the loan application does not commence until all documents stated in the checklist are provided. (Our Locations)

Does BOI have a loan threshold for SMEs?

SMEs are eligible to apply for loans that fall within the category of N10million to less than N1billion.


Micro Enterprise

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We believe that collaboration is necessary to achieve our goal of economic transformation goal, We want to Work with you to achieve a sustainable growth, lets begin your success journey.