Development Bank of Nigeria exists to alleviate financing constraints faced by Micro, Small and Medium Scale Enterprises (MSMEs) in Nigeria through providing financing, partial credit guarantees and technical assistance to eligible financial intermediaries on a market-conforming and fully financially sustainable basis.
Who qualifies for the DBN loan?
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 Banks, Microfinance Banks, Development Finance Institutions (DFIs) and other Financial Institutions.
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.
How to get a DBN Loan
I. 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.
II. The Bank appraises the business and loan purpose, and if its assessment is favourable, the Bank applies to DBN for funding.
III. 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:
Offerings / Eligibility Criteria
To be eligible to receive financing from DBN, the PFI shall have met the minimum eligibility requirements set out below on the Cut-Off Date. The PFI shall maintain the minimum eligibility requirements throughout the Financing Period.
DBN or its representative will conduct an annual due diligence process to confirm that the PFI is not in breach of the minimum eligibility requirements and may declare all advances to the PFI immediately payable if the PFI is in breach of one or more of the requirements or fails to remedy the breach of a requirement within any grace period allowed by DBN at DBN’s absolute discretion.
To be eligible to receive financing from DBN, the PFI shall:
– hold a duly issued and valid license from CBN to carry on business as a bank or finance company;
– demonstrate within the three most recent financial years, two years of profitable lending operations, with effective risk management procedures, controls, and acceptable levels of loan portfolio quality and performance;
To read more about our Eligibility Criteria please CLICK HERE
To complete our Eligibility Criteria Questionnaire (ECQ), kindly CLICK HERE
Here are list of contact banks as follows
Access Bank Plc
Onyinyechi.Uba@ACCESSBANKPLC.com,
CorporateFinance@ACCESSBANKPLC.com,
Oreoluwa.Adeyemo@ACCESSBANKPLC.com,
Ecobank Nigeria Bank Plc
Olusola Afolalu – oafolalu@ecobank.com,
Fidelity Bank Plc
Esther Obiekwe – Esther.Obiekwe@fidelitybank.ng,
Nneoma Onuoka – Nneoma.Teteh@fidelitybank.ng,
FCMB Ltd
Oluremi Agboola – Oluremi.Agboola@fcmb.com,
George.Ogbonnaya@fcmb.com,
Toyin.Ajibulu@fcmb.com
First Bank Nig Ltd
DBNFUNDS@FIRSTBANKNIGERIA.COM
GTBank
Peju Lawanson – peju.lawanson@gtbank.com,
Providus Bank
Enyinnaya Akagha – eakagha@providusbank.com
Stanbic IBTC Bank Plc
Umeasala, Damian – Damian.Umeasala@stanbicibtc.com,
Sterling Bank Plc
Chibuzor Awe – CHIBUZOR.AWE@sterling.ng, businessbanking@sterling.ng
Union Bank of Nig Plc
John Ahodu – joahodu@unionbankng.com,
Wema Bank Plc
Ololade.Adekunle@wemabank.com,
Arthur.Nkemeh@wemabank.com
AB Microfinance Bank Nigeria Ltd
Oladapo.Ikupolati@ab-mfbnigeria.com,
Olukorede.Ekundebe@ab-mfbnigeria.com
Accion Microfinance Bank Limited
Ndubuisi Onuoha – nonuoha@accionmfb.com,
Adetokunbo Elliot – aelliot@accionmfb.com,
Emeka Uzowulu – euzowulu@accionmfb.com,
uchukwu@accionmfb.com
Addosser Microfinance Bank
Olusola Howells – howells.olusola@addosser.com,
deji.sobulo@addosser.com,
oluwaseun.adekanbi@addosser.com
Astra Polaris MFB
Onifade Abimbola – abimbola.onifade@astrapolaris.com, info@astrapolaris.com,
Baobab Microfinance Bank
Achenyo Oyibo – aoyibo@baobab.bz,
cgwehi@baobab.bz
Bosak Microfinance Bank
Toyin Peters – toyinpeters@bosakmfb.com, teepeeters@gmail.com,
FrancisAtiri@bosakmfb.com
Coronation Merchant Bank
Daniel Egwuonwu – DEgwuonwu@coronationmb.com,
Davodani Microfinance Bank
johne.ologe@davodanimfb.com,
aayotomi@davodanimfb.com,
ayodejitomi@yahoo.com,
soyebisi@davodanimfb.com,
ufelix@davodanimfb.com
FSDH Merchant Bank
Segun Adesipe – sadesipe@fsdhgroup.com
HASAL Microfinance Bank
mercy.okenwa@hasalmfb.com,
njoel-ezeugo@hasalmfb.com
Infinity Microfinance Bank Ltd
Oludotun Adewunmi – g.adewunmi@infinitymfb.com, oludotunadewunmi@yahoo.com,
s.ogunniyi@infinitymfb.com
Infinity Trust Mortgage Bank
Abiodun Akanbi – abiodun.akanbi@itmbplc.com
Jubilee Life Mortgage
Kushiro Roli – rolikushimo@jubileelifeng.com
La Fayette Microfinance Bank Limited
eodetayo@advans-lfmfb.com
LAPO Microfinance Bank Ltd
Efosa Aigbe – efosa.aigbe@lapo-nigeria.org,
hope.ogbe@lapo-nigeria.org
Mainstreet Microfinance Bank Ltd
Adegoke E. Adegbami – aadegbami@mainstreetmfb.com,
midris@mainstreetmfb.com, midris@mainstreetbankmfb.com
Microvis Microfinance Bank
oolaiya@microvismfbank.com,
oaustin@microvismfbank.com,
eokpanachi@microvismfbank.com
NPF Microfinance Bank Plc
Rotimi Dada – rotoyin1159@gmail.com, rdada@npfmicrofinancebank.com,
cwosu@npfmicrofinancebank.com,
chima_wosu@yahoo.com
Parallex Microfinance Bank
abimbola.akande@parallexbank.com,
femi.otenigbagbe@parallexbank.com
Regent Microfinance Bank
fatima.rufai@regentmfb.com
Seedvest Microfinance Bank
Kehinde Oyeleke – kehinde.oyeleke@seedvestgroup.com, oyelek@yahoo.com,
omololaakinjoko1@gmail.com,
jannybee1@live.com
Stanford Microfinance Bank
Vincent Aluu – nellyvingroup@gmail.com
Trust Microfinance Bank
trustmfb@yahoo.com,
debanjajayi@gmail.com,
To apply for the loan click here
