The Development Bank of Nigeria is currently giving loans to start-up entrepreneurs and existing business owners to foster the sale of their business ventures and sustainable economic development.
The DBN loan is aimed towards entrepreneurs who have creative and innovative mindsets and those whose businesses are providing solutions and jobs to society. If you currently have a business plan or already own a business within Nigeria, you can apply for the DBN loan application 2022.
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.
How to get a DBN Loan 2022
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.
