Apply for DBN Micro, Small and Medium Scale Enterprises (MSMEs)

DBN MSMEs Loan
DBN MSMEs Loan

Apply for DBN Micro, Small and Medium Scale Enterprises (MSMEs) – The Development Bank of Nigeria is a development finance institution focused on alleviating financing constraints faced by Micro, Small and Medium Scale Enterprises (MSMEs) in Nigeria through providing financing, partial credit guarantees and technical assistance.

The Bank was started by the Federal Government of Nigeria to provide loans to Micro, Small and Medium Scale Enterprises in Nigeria. The bank does not disburse the loan to the borrower in cash but through participating intermediary banks in Nigeria.

Target sub-sectors include Agro-processing, Solid Minerals, Information Technology and Creative Industry. DBN’s loan support to the SME starts from N5 million. The DBN accepts collateral other than landed property.

Read – FG Introduce Small and Medium Enterprises (SMEs)

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.

Start or grow your own business with the help of a government-backed Start Up Loan. A great alternative for individuals looking for business loans to fund their start up. The DBN has dedicated time, energy and money to helping small businesses thrive.

Read – Eligibility Criteria to Receive SMEs Funds from Development Bank of Nigeria

Products – Apply for DBN Micro, Small and Medium Scale Enterprises (MSMEs)

  • SME Term loan – The Development Bank of Nigeria DBN offers loan products tailored to meet the business needs of Small & Medium Enterprises (SME). SME finance is a financing solution accessible for specific business medium term projects. The Development Bank of Nigeria provides wholesale term funding and risk-sharing facilities to Participating Financial Institutions (eligible retail intermediaries such as commercial banks, microfinance banks, existing retail DFIs and leasing companies) for on-lending to MSMEs. The DBN loan repayment tenure is flexible (up to 10 years with a moratorium period of up to 18 months)

PROS

  • Low interest rate
  • High Loan amount

CONS

  • Numerous documentation required
  • Loans are disbursed via banking intermediary

REQUIREMENTS

  • Official Government Identification
  • Evidence of Company Incorporation (CAC Certificate)
  • Debenture on assets of the company
  • Bank Guarantee

How to Apply

Interested Nigerians should apply by clicking Apply Here

DBN MSMEs Loan
Apply for DBN Micro, Small and Medium Scale Enterprises (MSMEs)