Are you a business owner in Nigeria and needs a loan to address your company’s financial challenges? If yes then this article is for you, in it I will show you how to get business loan with ease from the development Bank of Nigeria.
Development Bank of Nigeria Business Loan
About Development Bank of Nigeria (DBN)
The Development Bank of Nigeria (DBN) is a financial institution established by the Federal Government of Nigeria (FGN) in collaboration with global development partners to address the major financing challenges facing Micro, Small and Medium Scale Enterprises (MSMEs) in Nigeria.
How To Apply For Development Bank of Nigeria Business Loan
The main objective of the Development Bank of Nigeria (DBN) is to alleviate financing constraints faced by businesses in Nigeria through the provision of financing and partial credit guarantees to eligible financial intermediaries on a market-conforming and fully financially sustainable basis.
Development Bank of Nigeria (DBN) Loan Application Process
DBN Loan Application Process
Eligibility for the DBN Loan
All MSMEs (start up or existing) involved in productive enterprises are eligible for the loan. However, they must be customers of eligible financial institutions.
DBN is poised to provide funding and risk-sharing guarantees through Participating Financial Institutions (PFIs), who will then on-lend to end beneficiaries.
DBN loans can be accessed through PFIs, which include Commercial Banks, Microfinance Banks, Development Finance Institutions (DFIs) and other Financial Institutions.
DBN loan repayment tenure is flexible (up to 10 years with a moratorium period of up to 18 months) and the interest rates are on a market-conforming and fully financially sustainable basis.
Steps To Get DBN Loan
- Visit your bank: Commercial Bank, Microfinance Bank, Development Finance Institution (DFI) and other Financial Institutions and indicate you want to apply for a DBN Loan.
- The Bank appraises the business and loan purpose, and if its assessment is favourable, the Bank applies to DBN for funding.
- If DBN approves the loan, DBN will disburse to the Bank for on-lending to end borrowers.
How To Access DBN Loan Partners
You can access the DBN loan through any of these PFIs by contacting any of the Participating banks contact persons listed below:
|Access Bank Plc||Onyinyechi.Uba@ACCESSBANKPLC.com,
|Ecobank Nigeria Bank Plc||LAWAL Theresa
|Fidelity Bank Plc||Osaigbovo Omorogbe
|FCMB Ltd||Oluremi Agboola
|First Bank Nig Ltd||DBNFUNDS@FIRSTBANKNIGERIA.COM|
|Stanbic IBTC Bank Plc||David.Adebayo@stanbicibtc.com,
|Sterling Bank Plc||Fatai.Jelili@Sterlingbankng.com,
|UBA Plc||Adegoke Bayo
|Union Bank of Nig Plcemail@example.com,
|Wema Bank Plc||Ololade.Adekunle@wemabank.com,
|AB Microfinance Bank Nigeria Ltd||Oladapo.Ikupolati@ab-mfbnigeria.com,
|Addosser Microfinance Bank||Olusola Howells
|Baobab Microfinance Bank||Achenyo Oyibo – firstname.lastname@example.org,
|Bosak Microfinance Bank||Toyin Peters –
|HASAL Microfinance Bankemail@example.com,
|Infinity Microfinance Bank Ltd||Oludotun Adewunmi –
|LAPO Microfinance Bank Ltd||Efosa Aigbe – firstname.lastname@example.org,
|Mainstreet Microfinance Bank Ltd||Adegoke E. Adegbami
|Microcred Microfinance Bank Ltd||Omar Niaz – email@example.com|
|NPF Microfinance Bank Plc||Jude Ohanehi
|Parallex Microfinance Bankfirstname.lastname@example.org,
|Seedvest Microfinance Bank||Kehinde Oyeleke – email@example.com,
|Accion Microfinance Bank Limitedfirstname.lastname@example.org,
|La Fayette Microfinance Bank Limitedemail@example.com|
|Davodani Microfinance Bankfirstname.lastname@example.org,
|Trust Microfinance Bankemail@example.com,
For more information about Development Bank of Nigeria Business Loan kindly visit the website of Development Bank of Nigeria (DBN)