How To Get Business Loan from the Development Bank of Nigeria

The Development Bank of Nigeria Loans which is popularly known as DBN Loans is straightforward and simple to access, once you are familiar with its application requirements.

This article will expose you to everything you need to get a business loan from the Development Bank of Nigeria. Whether you are a startup or an existing business, you can secure funds from the Development Bank of Nigeria easily.

According to the Development Bank of Nigeria, there are over 37 million startups and businesses in the country. These MSMEs contribute 50% of Nigeria GDP’s and less than 5% of them have adequate funding.

This implies that most startup does not have adequate funding to carry out the necessary business activities thereby restricting their growth.

This is what propelled the Development Bank of Nigeria to partner with Federal Government and organizations to provide loans for small businesses.

What is Development Bank of Nigeria(DBN) Loans all about?

The Development Bank of Nigeria(DBN) with the support of the Federal Government of Nigeria and some other global organizations has started providing loans to business owners and startups.

As popularly called, DBN loans are provided to address the financial challenges faced by many small businesses. It is accessible by all micro, small, and medium-scale enterprises or businesses in Nigeria.

DBN loans are for MSMEs but not applied for directly by them. The loan is applied through Participating Financial Institutions(PFIs) which screen businesses that are eligible for the loans. The Participating Financial Institutions include commercial banks, microfinance banks, and development banks that partner with the DBN in the disbursement of the loans.

The PFIs are the ones that help businesses to apply for loans after verifying the needs of loans by the business. They are also responsible for sharing the loans once it is approved by the DBN.

How To Get Business Loan from the Development Bank of Nigeria

Below are some of the PFIs banks with the e-mail addresses of their representatives.

Access Bank Plc

You can send messages to any of these e-mail addresses for people using Access bank

Ecobank Nigeria Bank Plc

You can send messages to any of these e-mail addresses for people using Ecobank Nigeria Bank Plc

Fidelity Bank Plc

You can send messages to any of these e-mail addresses for people using Fidelity Bank Plc. By contacting;


First Bank Nig Ltd


Providus Bank

Stanbic IBTC Bank Plc

Sterling Bank Plc

Union Bank of Nig Plc

Wema Bank Plc

AB Microfinance Bank Nigeria Ltd

Accion Microfinance Bank Limited

Addosser Microfinance Bank

Baobab Microfinance Bank

Bosak Microfinance Bank

Davodani Microfinance Bank

FSDH Merchant Bank

HASAL Microfinance Bank

Infinity Microfinance Bank Ltd

Infinity Trust Mortgage Bank

Jubilee Life Mortgage

LaFayette Microfinance Bank Limited

LAPO Microfinance Bank Ltd

Mainstreet Microfinance Bank Ltd

Microvis Microfinance Bank

NPF Microfinance Bank Plc

Parallex Microfinance Bank

Regent Microfinance Bank

Seedvest Microfinance Bank

Stanford Microfinance Bank

Trust Microfinance Bank

Requirements for Accessing DBN Loans

To access the DBN loans, it’s a must for the business intending to apply for it to have the following

  1. A functional (bank) account with any of the PFIs
  2. A viable business (whether existing business or startup)
  3. A business plan

After meeting or gathering these requirements, the next step is to proceed to apply for the DBN Loans.

Steps to Get the DBN Loans

1. Visitation and Application

Visit the PFI bank or institution you have a bank account with to make your intention known. Provide all the required details in the DBN application form given and hand over your business plan for verification.

2. Verification

After filling out the form, the bank or PFI institution will verify your business ideas and plan. The institutions will be the ones to determine whether your business needs the loans you are applying for.

After verification, the PFI proceed to apply for a loan with the Development Bank of Nigeria on behalf of the business.

3. Disbursement

Once the DBN approves the loan, it will be given to the FPI, who in turn disbursed the loans to the businesses.

DBN Loan Repayment Plan and Interest Rate

Before securing the loans from the Development Bank of Nigeria, you would have been initiated with the repayment plan. It’s usually worked out depending on the business nature, the amount borrowed, and other factors. The repayment period usually starts after 18 months while some are even extended to 10 years later.

That’s one of the advantages of DBN loans over commercial bank loans. It has a longer duration of repayment and the interest rate is flexible.

Read Also: 9 Best Crowdfunding Sites in Nigeria to Fund your Business Ideas

Development Bank of Nigeria Contacts Details

Do you have any problems accessing the loans? Do you need more information regarding DBN loans?

You can contact them via;

  • Phone Number: 09-904-0000 (between 8 am to 5 pm from Monday to Friday)
  • Or visit their Head Office at Plot 1386A Tigris Crescent, The Clan Place, Maitama in Abuja. The Head Office Contact details are +234-9-904-0000, +234-811-3841-699, or send an e-mail message via [email protected]
  • Branch Office at Plot 952/953 Idejo Street in Victoria Island, Lagos state. The Lagos Branch Office Contact is +234-1-906-4000


Following the above-listed steps will help you get a business loan from the Development Bank of Nigeria. If you have any questions or inquiries, kindly use the comment box below.