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...Financing Sustainable Growth

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The Nigerian economy is powered by the MSMEs whose activities contribute to over 50% of Nigeria’s GDP.

IT’S A NEW DAY FOR MSMEs IN NIGERIA The Development Bank of Nigeria was conceived by the Federal Government of Nigeria in collaboration with the World Bank, African Development Bank, KfW Development Bank, French Agency for Development and European Investment Bank to address the major financing challenges facing Micro, Small and Medium Scale Enterprises (MSMEs) in Nigeria. This sector is widely recognized as the engine of economic growth and development, especially in a country like Nigeria. However, less than 5% of these businesses have access to credit in the financial system.

The Development Bank of Nigeria (DBN) provides sustainable financing through eligible Participating Financial Institutions (PFIs), who would in turn, lend to end-users - Micro, Small and Medium Enterprises (MSMEs) for the development of that sector.

With a vision to be Nigeria's primary development finance institution; promoting growth and sustainability, DBN seeks to fulfill three key mandates: o Lending activities to MSMEs o Partial Credit Guarantees o Capacity Building Unlike other intervention loans that are sector specific, the DBN loan cuts across all sectors and seeks to achieve the Nigerian Sustainable Banking Principles (NSBP) of the Central Bank of Nigeria (CBN), where financial inclusion ranks high, as well as the United Nations Sustainable Development Goals.

The DBN loan repayment tenure is flexible (up to 10 years with a moratorium period of up to 18 months) and the interest rates are tied to market referenced rates.

WHO QUALIFIES FOR THE DBN LOAN? All MSMEs (Start up, going concern or established) involved in productive enterprises are eligible for the loan.

However, they must be customers of a Participating Financial Institution.

Loan tenor of up to

Up to

18 months

10years

Business training

FEATURES OF THE DBN LOAN

Moratorium on principal repayment for working capital & investment project

Increased access to markets

for MSMEs

HOW TO GET A DBN LOAN Visit your PFI (Participating Financial Institution) and indicate you want to access a DBN loan.

The PFI appraises the project and if its assessment is favourable the PFI applies to DBN for funding for on lending to the project.

The DBN will disburse to the PFI's application for on-lending, if it is approved.

FAQs FREQUENTLY ASKED QUESTIONS

Can I borrow directly from DBN? No, The Development Bank of Nigeria (DBN) does not lend directly to promoters of projects. The DBN loan is channeled through PFIs. PFIs provide the credit evaluation and loan supervision.

How many years do I have to pay back the loan?

You have up to 18 months moratorium on principal repayment for working capital & investment project and up to 10 years to repay the loan.

What is the interest rate?

The DBN loan repayment tenure is flexible (up to 10 years with a moratorium period of up to 18 months) and the interest rates are tied to market referenced rates.

What is the classification of an MSME? MSMEs are classified according to Micro Business, Small Business and Medium Sized Businesses.

How does the DBN loan differ from commercial loans?

DBN fills the financing gap of commercial and usually short-term loans, making the loans more accessible and long term with little risks involved.

Can I open a current/saving account at DBN? No, DBN is a long-term wholesale lender and does not provide regular banking services nor accept deposits.

Can I file a complaint with DBN regarding a Participating Financial Institution?

For any complaint or suggestion, you may contact us directly through the following channels: E-mail: info@devbankng.com Call: +234 811 3841 699

Corporate Office: The Clan Place, Plot 1386 Tigris Crescent, Maitama-Abuja, Nigeria.