A television commercial to educate the teeming Micro, Small and Medium Enterprises (MSMEs) in the country on how to access loans through the various Participating Financial Institutions (PFIs) has been launched by the Development Bank of Nigeria (DBN).
DBN is a wholesale Development Finance Institution (DFI) providing sustainable financing through eligible PFIs, who in turn, lend to end-borrowers, MSMEs for the development of that segment.
The lender recently opened an office in the commercial capital of the country; Lagos, for proximity to the PFIs.
A statement issued by the PR agency of the financial institution in Lagos on Friday disclosed the TV commercial, its first, would be broadcast across various platforms.
The series of 60 Second TV Commercials aptly recount the struggles of entrepreneurs who must meet their customers’ orders despite seemingly impossible deadlines.
The stories progress with the protagonist in a frantic search for loans to help them meet their client’s orders; family and friends disappoint them but at the climax of their struggle, DBN provides a solution through her financing which is available through commercial banks, micro finance banks, and other financial institutions with tenors of up to ten years and eighteen months moratorium, where necessary.
Commenting on the launch of the TV Commercials, Managing Director of DBN, Mr Tony Okpanachi, said: “There are a lot of innovative and brilliant entrepreneurs out there who are critically challenged by access to financing and have no clue on how to address it. The commercial is intended to educate the public on the available funds from DBN for the development of the MSMEs, which is globally acknowledged to be the engine room of growth for any economy.”
He added: “The visibility of the bank to the business community in Nigeria has brought about a lot of enquiries. We are using the TVC to educate the business owners on how to access funds for their businesses.”