Posts

USEFUL TIPS ON HOW TO TAKE YOUR BUSINESS FROM GROUND LEVEL TO THE TOP

Image
1. Position yourself as a leader. Entrepreneurs lead the way. But positioning yourself as a leader is not just about having the right answers – odds are you won't have the right ones in every situation. It’s more about knowing where to find the answers. You’ll have to make a lot of tough decisions in your new line of duty, so you need to have confidence in the decisions you make on a day-to-day basis. 2. Be open-minded. Know when to say “when.” Your idea of what’s right may actually be wrong. Be open to other suggestions and ideas. Remember, your business is actually not about you. It’s about delivering a good product to your customers and doing whatever it takes to ensure that your customers turn into repeat customers. In other words, be ready to embrace fresh ideas, even if they go counter to your own beliefs. 3. Deliver value — not just quick profit. Ensure your company delivers real value to clients. Successful entrepreneurs are in it for the long haul. They are not after a get-…

TIPS FOR SECURING LOANS FROM DEVELOPMENT BANK OF NIGERIA

Image
The Bank’s Objective The objective of the Development Bank of Nigeria is to alleviate financing constraints faced by the Micro, Small and Medium Enterprises (MSMEs) and small corporate entities in Nigeria through the provision of financing and partial credit guarantees to eligible financial intermediaries on a market-conforming and fully financially sustainable basis.
Who qualifies for the DBN loan? All MSMEs (start up or existing) involved in productive enterprises are eligible for the loan. However, they must be customers of eligible financial institutions. DBN is poised to provide funding and risk-sharing guarantees through Participating Financial Institutions (PFIs), who will then on-lend to end beneficiaries.
DBN loans can be accessed through PFIs, which include Commercial Banks, Microfinance Banks, Development Finance Institutions (DFIs) and other Financial Institutions.
DBN loan repayment tenure is flexible (up to 10 years with a moratorium period of up to 18 months) and the interest…