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.

DBN commenced operation in 2017. The bank have so far given out loan through the PFIs (Participating Financial Institutions) in excess of N31 billion to 35,000 MSMEs (Micro, Small and Medium Scale Enterprises). And the bank has concluded plan to disburse over N100 billion this year. They are therefore, expecting more application from MSMEs in need of fund to scale up their businesses.

Who qualifies for the DBN loan?

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.

All MSMEs (start up or existing) involved in productive enterprises are eligible for the loan. However, they must be customers of eligible financial institutions.

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 favourable, 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:

Access Bank,
Ecobank Nigeria Bank PlcNelson Paseda –
LAWAL Theresa –
Fidelity Bank PlcOsaigbovo Omorogbe –
FCMB LtdOluwaseun Adetiba –
Oluremi Agboola –
GTBankFemi Nedd –
UBA PlcAdegoke Bayo –
Wema Bank PlcKolawole Ogunleye –
AB Microfinance Bank Nigeria Ltd Nnadozie Joseph –
Addosser Microfinance Bank Olusola Howells –
Baobab Microfinance Bank Achenyo Oyibo –
Bosak Microfinance Bank Toyin Peters –
HASAL Microfinance Bank,
Infinity Microfinance Bank Ltd Oludotun Adewunmi –
LAPO Microfinance Bank LtdEfosa Aigbe –
Mainstreet Microfinance Bank LtdAdegoke E. Adegbami –
Microcred Microfinance Bank LtdOmar Niaz –
NPF Microfinance Bank PlcJude Ohanehi –
Parallex Microfinance,
Seedvest Microfinance BankKehinde Oyeleke –,