It was found that out of about 37 million micro, small and medium scale enterprises that contribute to the growth of the Nigeria economy, only less than 5% have access to low interest credits.
So if you are a business owner looking for a way to finance your business, the Dbn Loan Nigeria could be a place to turn to. You will learn in this post all about DBN loan and how you can apply for it.
Table of Contents
Requirements
The target of Development Bank of Nigeria, DBN is the Micro, Small, and Medium Scale Enterprises (MSMEs). So the primary criteria or requirements for this loan is that you must be a business owner or simply an entrepreneur. You could also be a trader.
The disbursement of the DBN is through the Participating Financial Institutions (PFIs). Other requirements added to the general one above vary with PFIs (Participating banks).
How to apply
As it is stated above, the Development Bank of Nigeria (DBN) does not offer these credits to business owners themselves. They do that through the commercial banks, micro finance banks and other eligible financial institutions. It is these banks through which DBN give business credits that are called Participating Financial Institutions (PFI).
Therefore to apply for the DBN loan, you will have to visit any of the PFIs and let them know what you want. The PFI will access you and your business, they will apply for the loan from DBN if you are found worthy. Finally, the DBN will now approve the loan for you through your PFI.
Here are the list of DBN Participating Financial Institutions (PFI) and the contact email of the staff you can reach for help:
Access Bank Plc: Onyinyechi.Uba@ACCESSBANKPLC.com, CorporateFinance@ACCESSBANKPLC.com, Oreoluwa.Adeyemo@ACCESSBANKPLC.com,Omotolani.Ketiku@ACCESSBANKPLC.com,Moses.Osondu@ACCESSBANKPLC.com
Ecobank Nigeria Bank Plc:
LAWAL Theresa – TOLAWAL@ecobank.com, TOLARINDE@ecobank.com, AODJEGBA@ecobank.com
Fidelity Bank Plc:
Osaigbovo Omorogbe – osaigbovo.omorogbe@fidelitybank.ng, Jennifer.David-Ake@fidelitybank.ng, Chiwuike.Okere@fidelitybank.ng
FCMB LTD:
Oluremi Agboola – Oluremi.Agboola@fcmb.com, George.Ogbonnaya@fcmb.com, Toyin.Ajibulu@fcmb.com
First Bank Nig. LTD:
GTBank:
gbeminiyi.onipede@gtbank.com, lucia.jaiyeola@gtbank.com, kelvin.biiranee@gtbank.com
Stanbic IBTC Bank Plc:
David.Adebayo@stanbicibtc.com, Ayodele.Ojosipe@stanbicibtc.com
Sterling Bank Plc:
Fatai.Jelili@Sterlingbankng.com, Ezinne.Nwokafor@Sterlingbankng.com
Union Bank of Nig Plc:
aoordia@unionbankng.com, aebassey@unionbankng.com, retaillending@unionbankng.com
Wema Bank Plc:
Ololade.Adekunle@wemabank.com, Arthur.Nkemeh@wemabank.com
AB Microfinance Bank Nigeria Ltd:
Oladapo.Ikupolati@ab-mfbnigeria.com,
Olukorede.Ekundebe@ab-mfbnigeria.com
Addosser Microfinance Bank:
Olusola Howells – howells.olusola@addosser.com, deji.sobulo@addosser.com, oluwaseun.adekanbi@addosser.com
Baobab Microfinance Bank:
Achenyo Oyibo – aoyibo@baobab.bz, cgwehi@baobab.bz
Bosak Microfinance Bank:
Toyin Peters – toyinpeters@bosakmfb.com, teepeeters@gmail.com, FrancisAtiri@bosakmfb.com
HASAL Microfinance Bank:
ruskiyat@hasalmfb.com, rogers.nwoke@hasalmfb.com
Infinity Microfinance Bank Ltd:
Oludotun Adewunmi – g.adewunmi@infinitymfb.com, oludotunadewunmi@yahoo.com, s.ogunniyi@infinitymfb.com
LAPO Microfinance Bank Ltd:
Efosa Aigbe – efosa.aigbe@lapo-nigeria.org, stanley.oriakhi@lapo-nigeria.org
Mainstreet Microfinance Bank Ltd:
Adegoke E. Adegbami – aadegbami@mainstreetmfb.com, midris@mainstreetmfb.com, midris@mainstreetbankmfb.com
Microcred Microfinance Bank Ltd:
Omar Niaz – oniaz@microcred.com
NPF Microfinance Bank Plc:
Jude Ohanehi – jeco0072000@yahoo.co.uk, JOHANEHI@npfmicrofinancebank.com, cwosu@npfmicrofinancebank.com, rdada@npfmicrofinancebank.com, rotoyin1159@gmail.com, chima_wosu@yahoo.com
Parallex Microfinance Bank:
abimbola.akande@parallexbank.com, femi.otenigbagbe@parallexbank.com
Seedvest Microfinance Bank:
Kehinde Oyeleke – kehinde.oyeleke@seedvestgroup.com, oyelek@yahoo.com, omololaakinjoko1@gmail.com, jannybee1@live.com
Accion Microfinance Bank Limited:
tjoda@accionmfb.com, conyekwere@accionmfb.com, coladoyin@accionmfb.com
La Fayette Microfinance Bank Limited:
Davodani Microfinance Bank:
johne.ologe@davodanimfb.com, aayotomi@davodanimfb.com, ayodejitomi@yahoo.com, soyebisi@davodanimfb.com, ufelix@davodanimfb.com
Trust Microfinance Bank:
trustmfb@yahoo.com, debanjajayi@gmail.com, Sodiyasamusideen@yahoo.com
Interest Rate
The interest rate of DBN loan varies with amount borrowed and the loan tenure. The longer the loan tenure the higher the interest rate.
Nevertheless, on application of the loan you will be told that interest rate at which you will repay. But we expect that it will be low since that is the area the DBN wants to tackle the issue from.
Other Popular Banks That Gives Loans In Nigeria:
- Kwikcash Loan
- Aella Credit Loan
- Ferratum Loan
- Zedvance Loan
- Paylater Loan
- Federal Government Agricultural Loan
- Bank Of Agriculture Nigeria Loan
- Fcmb Loan
- Palmcredit Loan Nigeria
- NYSC Loan
Repayment
The DBN loan is required to be paid back in 18 months. But the borrower can also extend the period of loan payment, but that will definitely attract extra charge.
Pros & Cons
| Pros | Cons |
|---|---|
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Mobile App
N/A
Customer Care
You can reach the DBN Customer service center through the number:
0700-0225-5326
or by writing to their mail.
Email: info@devbankng.com
| Official Website | www.devbankng.com |
|---|---|
| Contact Number | 0700-0225-5326 |
Branches & Head Office
Head Office: The Clan Place, Plot 1386A Tigris Crescent, Maitama, Abuja, Nigeria
Call: +234-9-904-0000, +234-811-3841-699
Branch Office: Liaison Office: Plot 952/953 Idejo Street, Victoria Island, Lagos, Nigeria.
Call: +234-1-906-4000
We also recommend this: Payconnect Loan,Zedvance Loan,Quickteller Loan