The Development Bank of Nigeria is a development finance institution focused on alleviating financing constraints faced by Micro, Small and Medium Scale Enterprises (MSMEs) in Nigeria through providing financing, partial credit guarantees and technical assistance.
In addition, DBN loans have a longer tenure than other commercial loans, which are usually short-term. To start or grow your own business you can begin with the help of a government-backed Start Up Loan.
The NATION reports that Development Bank of Nigeria (DBN) has provided funding and risk-sharing facilities to Micro, Small and Medium Enterprises in Nigeria (MSMEs) and Small Corporates through participating financial institutions.
DBN, which is holding its Entrepreneurship Training, has a mandate for building capacity for participating financial institutions and, Nigerian MSMEs.
As a result, participants would be equipped with skills to improve their competence in developing and defending a viable business plan, improve their capacity to access funding, as well as efficient utilisation of the funds.
DBN initiated the MSME capacity building programme last year with 100 participants drawn from the six geographical zones of the country, who converged on Abuja and Lagos.
This year, the number has increased to 150 participants and the focus is on impacting Nigerian MSMEs with the resilience needed for survival and sustenance in the wake of Covid-19 global pandemic.
DBN Managing Director, Tony Okpanachi, said the ongoing exercise would end in October, and that the initiative is an integral part of the bank’s mandate to drive growth by empowering MSMEs with the skills to improve their capacity and productivity, especially in the face of the COVID 19-induced economic reality.
Source: https://thenationonlineng.net/dbn-provides-funding-risk-sharing-to-msmes/