You may have wondered what Nigeria Bank of Industry (BOI) does as the foremost development bank in the country and how the bank can help you grow your business.
In this article, we will look into the role Bank of Industry plays in the Nigerian economy, areas the Bank can help grow your business as well as details of how you can contact the bank.
Role Of Bank Of Industry In Nigerian Economy
Summarily, one can say that Bank of Industry is Committed to Transforming the Industrial Sector in Nigeria.
The Bank of Industry Limited (BOI) is Nigeria’s oldest, largest and most successful development financing institution (DFI). It exists to facilitate the transformation of Nigeria’s industrial sector by providing financial and advisory support for the establishment of large, medium and small projects/ enterprises, and the expansion, diversification, rehabilitation and modernisation of existing enterprises.
This commitment has continuously driven the bank to develop innovative strategies, interventions and solutions that are propelling the Nigerian economy towards sustained growth.
The Bank continues to support growth across various sectors including Agro and Food Processing, Creative Industries, Engineering and Technology, Healthcare and Petrochemicals, Oil and Gas, Renewable Energy and Solid Minerals; leveraging its 30 state offices nationwide.
They Create Convenient and Valuable Opportunities for Businesses in Nigeria
How Bank Of Helps Your Business Grow
The Bank of Industry Supports your business via the following ways:
1. Single Digit Interest Loans:
They ensure that their loan terms are favourable and provided to ensure the greatest levels of success for their beneficiaries.
2. Generous Loan Tenor:
The bank provides extended repayment schedules to give businesses ample time to repay loans and minimize default
3.Business Advisory and Support:
They create direct opportunities as well as in partnership with other stakeholders for improved business performance, as businesses require more than financing to succeed.
4. Innovative Financing Solutions:
All their loans and funds are sector-specific and tailored to the unique needs of micro-enterprises, SMEs and large enterprises.
5. Keen Focus on the Bottom of the Pyramid:
The bank delivers special support and financing to disadvantaged and vulnerable sectors within the grassroots that are typically underserved but critical to economic prosperity.
Businesses That Bank of Industry Supports
1. Micro Enterprises
Their Micro Enterprises directorate is financing disadvantaged and vulnerable sectors at the grassroots and the bottom of the pyramid: formal, informal businesses and cooperatives (e.g. market women, traders and artisans, farmers, agriculture workers and enterprise youth).
2. Medium Enterprises
Their Small & Medium Enterprises directorate is financing registered small and medium-sized businesses in underserved and budding sectors including Youth and Gender focused businesses (e.g. Fashion & Beauty, Food & Agro Commodity Processing, Light Manufacturing, Engineering, Healthcare, Greenhouses, Arts & Craft, Solar (off-grid).
3. Large Enterprises
Large Enterprises directorate provides support for registered big businesses in sectors including Agro and Food Processing, Creative Industries, Engineering and Technology, Healthcare, Renewable Energy, Gender Business, and Intervention Funds.
Contact Details Of Bank Of Industry (BOI)
For more information or support, feel free to contact Bank Of Industry via any of the channels below:
23 Marina, Lagos, Nigeria
+234 700 225 5264
You can also Follow them on social media
For more details on Bank of Industry, how they support your business and other relevant details, do well to visit their website.
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