The Development Bank of Nigeria (DBN) provides funding through Participating Financial Institutions (PFIs), which include Commercial Banks, Microfinance Banks, Development Finance Institutions (DFIs) and other Financial Institutions, who will then lend to end borrowers.
The DBN loan repayment plans are also very flexible and relatively more convenient than other loans provided by other Financial Institutions.
With DBN, you are allowed up to 18 months moratorium on the principal amount before you are required to start paying back. You can also pay back the loan over a period of as long as 10 years depending on the loan type and your line of business.
The interest rates are also decent and on a fully financially sustainable basis.
To get a DBN loan, all you need to do is walk into any of the Participating Financial institutions that is listed on the DBN website at www.devbankng.com and indicate that you will like to apply for a DBN loan.
The bank will appraise the business, if you meet the requirements, the bank then applies for the loan on your behalf and DBN will disburse to the Bank for on-lending to you, the end borrower.