The Development Bank of Nigeria (DBN), licensed by the Central Bank of Nigeria (CBN) as a wholesale development finance institution, makes wholesale lending available to microfinance banks and deposit money banks, for on-lending of medium to long-term money to Micro, Small and Medium Enterprises (MSMEs).
Its capital base of N100 billion and $1.5 billion, from its development partners, uniquely positions DBN to make significant contributions to the Nigerian small business finance ecosystem. It targets its loans to Small Business Owners, Farmers and Traders. Its on-going lending activities span agriculture, trade and commerce, education and real estate.
DBN grants facilities of up to 10 years tenor, which could include a moratorium period of 18 months, at interest rates much lower than those of commercial banks and micro-finance banks.
To receive a DBN loan, your business is required to apply through its financial institution, which must be one of those registered to participate as an intermediary in the DBN loan scheme. Your financial institution will conduct its due diligence on your business and, upon qualification and approval, forward your application to DBN. The money will then be disbursed to your business through your financial institution.
Not fewer than 29 financial institutions now process loan applications on behalf of DBN.
Click here for the full list and contact details of supervising officers in participating financial institutions.
Contact Us Now if you need help to prepare your loan application for submission to your financial institution for forwarding to Development Bank of Nigeria.