Here are our FAQs that might help you.
No, Development Bank of Nigeria (DBN) does not lend directly to
businesses. DBN loan is channeled through PFIs. PFIs carry out the
credit evaluation and supervision of the loan.
Depending on the nature of your business and loan purpose, you may
have up to 18 months moratorium on principal repayment for working
capital & investment projects, and up to 10 years to repay the
loan.
DBN loan offers flexible interest rates that are based on tenure
and referenced to market rates.
MSMEs are classified into Micro, Small and Medium Sized Businesses
based on asset size, sales volume and number of employees, as
defined by The Small and Medium Enterprises Development Agency of
Nigeria (SMEDAN).
DBN loan is specifically targeted at small businesses to ensure
that such businesses have increased access to financing. In
addition, DBN loans have a longer tenure than other commercial
loans, which are usually short-term.