Simple steps to Get Business Loan from Development Bank Of Nigeria

For latest job updates visit https://recruitmentportalngr.com/

Simple steps to Get Business Loan from Development Bank Of Nigeria – In Nigeria, there are over 37 million MSMEs contributing to over 50% of Nigeria’s GDP. However, less than 5% of these businesses have adequate access to credit in the financial system – Apply here!

MSMEs are, collectively, the largest employers in many low-income countries including Nigeria, yet their viability is being threatened by lack of access to risk-management tools such as savings, insurance, and credit. Indeed, their growth is often stifled by restricted access to credit, equity and payments services.

About Development Bank of Nigeria (DBN)

The Development Bank of Nigeria (DBN) was conceived 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.

Its main objective is to alleviate financing constraints faced by MSMEs and small Corporates in Nigeria through the provision of financing and partial credit guarantees to eligible financial intermediaries on a market-conforming and fully financially sustainable basis.

Who can get a DBN loan?

All MSMEs (startups or existing) involved in productive enterprises are eligible to get a loan from the Development Bank of Nigeria. DBN is poised to provide funding and risk-sharing guarantees through Participating Financial Institutions (PFIs), who will then on-lend to end beneficiaries.

In other to access these loans, it is required that the business must be a customer of any of the eligible Participating Financial Institutions (PFIs) in Nigeria.  The PFIs includes major Commercial Banks, Microfinance Banks, Development Finance Institutions (DFIs) and other Financial Institutions.

How to get a DBN Loan

  1. 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.
  2. The Bank appraises the business and loan purpose, and if its assessment is favourable, the Bank applies to DBN for funding.
  3. If DBN approves the loan, DBN will disburse to the Bank for on-lending to end borrowers.

DBN loans frequently asked questions

Do you want to know more about DBNs loan services? Here are answers to frequently asked questions that might help you.

Can businesses borrow directly from DBN?

No, Development Bank of Nigeria (DBN) does not lend directly to businesses. DBN loan is channeled through PFIs. PFIs carry out the credit evaluation and supervision of the loan.

How many years do I have to pay back the loan?

Depending on the nature of your business and loan purpose, you may have up to 18 months moratorium on principal repayment for working capital & investment projects, and up to 10 years to repay the loan.

What is the interest rate?

DBN loan offers flexible interest rates that are based on tenure and referenced to market rates.

How does DBN loan differ from other commercial loans?

DBN loan is specifically targeted at small businesses to ensure that such businesses have increased access to financing. In addition, DBN loans have a longer tenure than other commercial loans, which are usually short-term.

Loan in Nigeria 2020 5
Loan in Nigeria 2020 5

Download all job past questions & answers here to get ahead of others in getting that your dream job – Download here now!

36 Comments

  1. You actually make it appear so easy together with your presentation but I find this matter to be actually something which I
    think I would by no means understand. It kind of feels too complicated
    and extremely wide for me. I am taking a look ahead on your subsequent put up, I’ll try to get
    the hang of it!

  2. I think what you said was actually very logical. However,
    consider this, what if you were to write a awesome headline?

    I am not suggesting your content isn’t good,
    but suppose you added something that grabbed a
    person’s attention? I mean Simple steps to Get Business Loan from Development
    Bank Of Nigeria – Recruitment Portal is a little plain. You should look at Yahoo’s home page and see how they
    write post headlines to grab viewers interested. You might try adding
    a video or a picture or two to get people interested about everything’ve written. Just my
    opinion, it could bring your posts a little bit more interesting.

  3. Great site you’ve got here.. It’s hard to find high quality writing
    like yours these days. I seriously appreciate individuals like you!
    Take care!!

  4. Hello! I know this is kind of off topic but I was
    wondering which blog platform are you using for this website?
    I’m getting fed up of WordPress because I’ve had problems with
    hackers and I’m looking at alternatives for another
    platform. I would be great if you could point me in the direction of a
    good platform.

  5. Hey this is kinda of off topic but I was wanting to know if blogs use WYSIWYG
    editors or if you have to manually code with HTML. I’m starting a blog soon but
    have no coding experience so I wanted to get advice from
    someone with experience. Any help would be greatly appreciated!

  6. Howdy would you mind letting me know which web host you’re using?
    I’ve loaded your blog in 3 completely different browsers and I must
    say this blog loads a lot quicker then most.
    Can you recommend a good web hosting provider at a reasonable
    price? Cheers, I appreciate it!

  7. Hi! I could have sworn I’ve been to this website before but after checking through
    some of the post I realized it’s new to me.
    Anyways, I’m definitely happy I found it and I’ll be book-marking and checking back
    frequently!

  8. Hi would you mind sharing which blog platform you’re working
    with? I’m looking to start my own blog soon but I’m having a difficult time selecting between BlogEngine/Wordpress/B2evolution and Drupal.
    The reason I ask is because your layout seems different then most blogs and I’m looking for something unique.

    P.S My apologies for getting off-topic but I had to ask!

  9. Having read this I believed it was very informative.
    I appreciate you taking the time and energy to put this article together.
    I once again find myself personally spending way too much time
    both reading and leaving comments. But so what, it was still
    worthwhile!

  10. Hmm it appears like your website ate my first comment (it was extremely long) so I
    guess I’ll just sum it up what I submitted and say, I’m thoroughly enjoying your blog.
    I too am an aspiring blog writer but I’m still new to everything.

    Do you have any helpful hints for rookie blog writers?
    I’d certainly appreciate it.

  11. I’ve read a few good stuff here. Certainly
    value bookmarking for revisiting. I wonder how so much attempt you
    place to make one of these wonderful informative web
    site.

  12. It is perfect time to make some plans for the future and it’s time to be happy.
    I have read this post and if I could I desire to suggest you few interesting things or advice.
    Perhaps you could write next articles referring to this article.
    I desire to read more things about it!

  13. It is in reality a nice and useful piece of information. I’m glad that you shared this helpful information with us.
    Please keep us informed like this. Thanks for sharing.

  14. I am really pleased to glance at this website posts
    which consists of plenty of useful information, thanks for
    providing these statistics.

  15. Greetings! Quick question that’s completely
    off topic. Do you know how to make your site mobile friendly?
    My weblog looks weird when viewing from my iphone. I’m trying to find
    a template or plugin that might be able to resolve this
    issue. If you have any recommendations, please share. Cheers!

  16. I loved as much as you will receive carried out right here.
    The sketch is attractive, your authored material
    stylish. nonetheless, you command get got an edginess over that you wish be delivering the
    following. unwell unquestionably come more formerly again since exactly the same nearly very often inside case you shield this increase.

  17. I get pleasure from, cause I found just what I was having a look
    for. You have ended my four day long hunt! God Bless you man. Have a
    great day. Bye

  18. Your method of explaining everything in this piece of writing is genuinely fastidious,
    every one be able to simply know it, Thanks a lot.

Leave a Reply

Your email address will not be published.


*