The Development Bank of Nigeria has introduced its first television commercial to be broadcast across various platforms to educate the Nigerian Micro, Small and Medium Enterprises on how to access the DBN loans, through the various Participating Financial Institutions.
In a statement, the series of 60 second TV commercials recount the struggles of entrepreneurs who must meet their customers’ orders despite seemingly impossible deadlines.
“The stories progress with the protagonist in a frantic search for loans to help them meet their client’s orders; family and friends disappoint them but at the climax of their struggle, the DBN provides a solution through its financing which is available through commercial banks, microfinance banks, and other financial institutions with tenors of up to 10 years and 18 months moratorium, where necessary,” it stated.
Commenting on the launch of the TV commercial, the Managing Director of the bank, Mr Tony Okpanachi, said, “There are a lot of innovative and brilliant entrepreneurs out there who are critically challenged by access to financing and have no clue on how to address it. The commercial is intended to educate the public on the available funds from the DBN for the development of the MSMEs, which is globally acknowledged to be the engine room of growth for any economy.
“The visibility of the bank to the business community in Nigeria has brought about a lot of enquiries. We are using the TVC to educate the business owners on how to access funds for their businesses.”
According to the statement, the DBN is a wholesale Development Finance Institution providing sustainable financing through eligible PFIs that in turn lend to end-borrowers – Micro, Small and Medium Enterprises for the development of that segment.
The bank recently opened an office in the commercial capital of the country, Lagos, for proximity to the PFIs, it added.
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