LOAN TERMS:
Lender
LOAN TERMS:
Development Bank of Nigeria
Eligibility
LOAN TERMS:
This loan is open to all businesses.
Loan Limit
LOAN TERMS:
Maximum scheme limit
Working capital: N60M
Term Loan: N200M
Interest Rate
LOAN TERMS:
Maximum Interest Rate: 9% p.a
Moratorium available
Max Tenor
LOAN TERMS:
Maximum Tenor: 4 years
Security Required
LOAN TERMS:
Minimum Equity Contribution-30% of total project cost plus any of legal mortgage, all assets debentures, personal guarantor
Documents Required
LOAN TERMS:
Customer’s request letter
Company registration
Cashflow analysis
Audited financials (if applicable)
Valuation report of property to be pledged as collateral
Legal mortgage over suitable property to be pledged as collateral
Approval Time
LOAN TERMS:
About Four (4) months from the time you submit all the required documentation
Thinking About Repayment Plan?
Calculate the monthly payment and overpayment for the loan