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The Development Bank of Nigeria is a development finance institution focused on alleviating financing constraints faced by Micro, Small and Medium Scale Enterprises (MSMEs) in Nigeria through providing financing, partial credit guarantees and technical assistance.
The Bank was started by the Federal Government of Nigeria to provide loans to Micro, Small and Medium Scale Enterprises in Nigeria. The bank does not disburse the loan to the borrower in cash but through participating intermediary banks in Nigeria.
Target sub-sectors include Agro-processing, Solid Minerals, Information Technology and Creative Industry. DBN’s loan support to the SME starts from N5 million. The DBN accepts collateral other than landed property. 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.
Start or grow your own business with the help of a government-backed Start Up Loan. A great alternative for individuals looking for business loans to fund their start up. The DBN has dedicated time, energy and money to helping small businesses thrive.