Are you looking for how to apply or register for DBN Loan then this article is for you with all the information and steps on the loan registration.
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Who can be eligible to receive this DBN credit?
Any MSMEs (start up or already existing) engaged in productive enterprises can be eligible for the loan. They must however be clients of financial institutions.
DBN will offer the guarantee of funding and risk-sharing by way of Participating Financial Institutions (PFIs) which will later on-lend to the beneficiaries who will be the final beneficiaries.
DBN loans are available through PFIs, which includes Commercial Banks, Microfinance Banks, Development Finance Institutions (DFIs) and various Financial Institutions.
DBN loan repayment terms are variable (up 10-years ) with an extended moratorium of between 18 and 24 months) and the interest rates are set on an economically sustainable basis.
DBN Loan
How to get a DBN Loan
1. Go to the bank you are with: Commercial Bank, Microfinance Bank, Development Finance Institution (DFI) and other Financial Institutions and indicate you would like to apply for DBN Loan. DBN Loan.
2. The Bank evaluates the business as well as the purposes of the loan and, if the assessment is favorable it then Bank submits a request to DBN to fund the loan.
3. If DBN approves the loan DBN will pay the Bank for the on-lending of the borrowers.
You can obtain the DBN loan via any of these PFIs contact with each of them below:
Mr Olawale Olokede is a registered loan officer and worked for over 10 years as a senior financial consultant for accounting, finance and business management firms in Nigeria. Mr Olawale Olokede implemented and supervised financial and loan solution to Lagos based small and medium scale businesses after lecturing at the Lagos Business school. He is channeled his writing skills and passion for blogging to set up Lending Naija with over 50 reviews on different loan application and downloads.
