– DBN Loan Application –
If you are in need of a loan for your small-scale business, then you should apply for Development Bank of Nigeria loans. In this article, we have made available for you all you need to know about the DBN Loan Application form.
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 aim is to ease 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.
Vision
To be Nigeria’s primary development finance institution; promoting growth and sustainability
Mission
To facilitate sustainable socio-economic development through the provision of finance to Nigeria’s underserved MSMEs through eligible financial intermediaries.
Our Mandate
• With a vision to be Nigeria’s primary development finance institution; promoting growth and sustainability, DBN seeks to fulfill three key mandates:
• Increase access to finance for MSMEs by lending to taking part Financial Institutions (Commercial Banks, Micro Finance Banks, and other DFIs) for on-lending to this segment.
• Provide Capacity Building for Participating Financial Institutions to enhance their ability and willingness to lend to the MSME segment.
• Provide Partial Credit Guarantees for Participating Financial Institutions to encourage them to take the risk of lending to MSMEs.
Core Values (S.T.E.D.I.)
• Sustainability
• Transparency
• Excellence
• Diversity
• Innovation
DBN Loan Application
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 Bank, Microfinance Banks, Development Finance Institutions (DFIs), and other Financial Institutions.
Also, 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.
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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 favorable, 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.
You can access the DBN loan through any of these PFIs by contacting any of the banks listed below:
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StudentsandScholarship Team.
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