Rolled Out Contacts for DBN SMEs, Startup Loan Application N Rolls Out Contacts for SMEs, Startup Loan Application

DBN: Rolled Out Contacts for SMEs, Startup Loan Applications

The Development Bank of Nigeria (DBN) is one of the easiest way for your business to re-integrate after COVID-19 disruption, its loan products are much easier to access.

Many businesses have had a run on their cash flows, and sales is drooling couple with credit policy gap. That would mean thing won’t get up easily across sectors for awhile.

Startups, MSMEs need to keep productivity lines open, pushing investment side till operating segments becomes fully optimise.

However, in the short term, for some businesses, working capital would do the magic.

Though, business owners always have to think about the cost obtaining funds, timing and rigor.

Usually, when there is need to raise fund, what comes to mind are the known names in the banking sector.

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Meanwhile, there are other financial services that push funds to those banks for onward lending to customers for certain objectives.DBN: Rolled Out Contacts for SMEs, Startup Loan Applications

By design, DBN exists to alleviate financing constraints faced by Micro, Small and Medium Scale Enterprises (MSMEs).

It does this by providing financing, partial credit guarantees and technical assistance to eligible financial intermediaries on a market-conforming and fully financially sustainable basis.

Who qualifies for the DBN loan?

Going by its objectives, all MSMEs (start up or existing) involved in productive enterprises are eligible for the loan.

However, they must be customers of an eligible financial institutions.

What that means is that you must have a bank that you have been used.

DBN is poised to provide funding and risk-sharing guarantees through Participating Financial Institutions (PFIs), who will then on-lend to end beneficiaries.

Its loans can be accessed through PFIs, which include Commercial Banks, Microfinance Banks, Development Finance Institutions (DFIs) and other Financial Institutions.

Like commercial banks, there are rules of the game. DBN loan repayment tenure is flexible.

Its customers have 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.

How to get a DBN Loan

First, visit your bank which could be any of the commercial, microfinance, DFI and indicate you want to apply for a DBN Loan.

Meanwhile, the Bank you chose will appraise the business and loan purpose, and if its assessment is favourable, the Bank applies to DBN for funding.

Then, if DBN approves the loan, it will disburse to the Bank for on-lending to end borrowers and that is it.

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You can access the DBN loan through any of these PFIs by contacting any of the banks listed below:

  1. Access Bank Plc
  • Onyinyechi.Uba@ACCESSBANKPLC.com,
  • CorporateFinance@ACCESSBANKPLC.com,
  • Oreoluwa.Adeyemo@ACCESSBANKPLC.com,
  • Omotolani.Ketiku@ACCESSBANKPLC.com,
  • Moses.Osondu@ACCESSBANKPLC.com
  1. Ecobank Nigeria Bank Plc
  • Ebere Onyenweaku – eonyenweaku@ecobank.com,
  • TOLARINDE@ecobank.com
  1. Fidelity Bank Plc
  • Osaigbovo Omorogbe – osaigbovo.omorogbe@fidelitybank.ng,
  • Jennifer.David-Ake@fidelitybank.ng,
  • Chiwuike.Okere@fidelitybank.ng
  1. FCMB Ltd
  • Oluremi Agboola – Oluremi.Agboola@fcmb.com,
  • George.Ogbonnaya@fcmb.com,
  • Toyin.Ajibulu@fcmb.com
  1. First Bank of Nigeria Ltd
  • DBNFUNDS@FIRSTBANKNIGERIA.COM
  1. GTBank
  • lucia.jaiyeola@gtbank.com,
  • kelvin.biiranee@gtbank.com
  1. Stanbic IBTC Bank Plc
  • David.Adebayo@stanbicibtc.com,
  • Ayodele.Ojosipe@stanbicibtc.com
  1. Sterling Bank Plc
  • Fatai.Jelili@Sterlingbankng.com,
  • Ezinne.Nwokafor@Sterlingbankng.com
  1. Union Bank of Nigeria Plc
  • aoordia@unionbankng.com,
  • aebassey@unionbankng.com,
  • SMEProduct@unionbankng.com
  1. Wema Bank Plc
  • Ololade.Adekunle@wemabank.com,
  • Arthur.Nkemeh@wemabank.com
  1. AB Microfinance Bank Nigeria Ltd
  • Oladapo.Ikupolati@ab-mfbnigeria.com,
  • Olukorede.Ekundebe@ab-mfbnigeria.com
  1. Addosser Microfinance Bank
  • Olusola Howells – howells.olusola@addosser.com,
  • deji.sobulo@addosser.com,
  • oluwaseun.adekanbi@addosser.com
  1. Baobab Microfinance Bank
  • Achenyo Oyibo – aoyibo@baobab.bz,
  • cgwehi@baobab.bz
  1. Bosak Microfinance Bank
  • Toyin Peters – toyinpeters@bosakmfb.com, teepeeters@gmail.com,
  • FrancisAtiri@bosakmfb.com
  1. HASAL Microfinance Bank
  • bukola.afariogun@hasalmfb.com,
  • njoel-ezeugo@hasalmfb.com
  1. Infinity Microfinance Bank Ltd
  • Oludotun Adewunmi – g.adewunmi@infinitymfb.com,
  • oludotunadewunmi@yahoo.com,
  • s.ogunniyi@infinitymfb.com
  1. LAPO Microfinance Bank Ltd
  • Efosa Aigbe – efosa.aigbe@lapo-nigeria.org,
  • stanley.oriakhi@lapo-nigeria.org
  1. Mainstreet Microfinance Bank Ltd
  • Adegoke E. Adegbami – aadegbami@mainstreetmfb.com,
  • midris@mainstreetmfb.com, midris@mainstreetbankmfb.com
  1. NPF Microfinance Bank Plc
  • Rotimi Dada – rotoyin1159@gmail.com,
  • rdada@npfmicrofinancebank.com,
  • cwosu@npfmicrofinancebank.com,
  • chima_wosu@yahoo.com
  1. Parallex Microfinance Bank
  • abimbola.akande@parallexbank.com,
  • femi.otenigbagbe@parallexbank.com
  1. Seedvest Microfinance Bank
  • Kehinde Oyeleke – kehinde.oyeleke@seedvestgroup.com, oyelek@yahoo.com,
  • omololaakinjoko1@gmail.com,
  • jannybee1@live.com
  1. Accion Microfinance Bank Limited
  • tjoda@accionmfb.com,
  • uchukwu@accionmfb.com,
  • ooladoyin@accionmfb.com
  1. La Fayette Microfinance Bank Limited
  • eodetayo@advans-lfmfb.com
  1. Davodani Microfinance Bank
  • johne.ologe@davodanimfb.com,
  • aayotomi@davodanimfb.com,
  • ayodejitomi@yahoo.com,
  • soyebisi@davodanimfb.com,
  • ufelix@davodanimfb.com
  1. Trust Microfinance Bank
  • trustmfb@yahoo.com,
  • debanjajayi@gmail.com,
  • Sodiyasamusideen@yahoo.com

DBN: Rolled Out Contacts for SMEs, Startup Loan Applications