Sterling Bank, in collaboration with the Development Bank of Nigeria (DBN), is unlocking access to a pool of N20 Billion in capital for women-led businesses across Nigeria. This initiative was created to remove the financial barriers that limit how far women can take their businesses.
Through this fund, each women founded business can access up to ₦75 million in affordable, growth-focused loans designed to scale their impact in sectors like healthcare, education, agriculture, fashion, and food & beverage.
Women entrepreneurs in Nigeria now have a golden opportunity to access affordable funding through the Sterling Bank and DBN Funding Scheme. This initiative supports female-owned businesses across key sectors with accessible loans, expert guidance, and long-term repayment flexibility.
You can also apply for Seyi Tinubu Digital Upskilling Program 2025 | Free Tech Training for Young Nigerians
If you are a woman building a business in Nigeria, this program could be your next growth step. Below is everything you need to know about the Sterling Bank DBN ₦20 Billion Funding Scheme, eligibility criteria, application process, and how to make your application stand out. – Sterling bank
Below is everything you need to know about the Sterling Bank DBN ₦20 Billion Funding Scheme, eligibility criteria, application process, and how to make your application stand out.
About the Sterling Bank and DBN Funding Scheme
The Sterling Bank and DBN Funding Scheme is a ₦20 billion empowerment initiative designed to support women-owned Micro, Small, and Medium Enterprises (MSMEs) in Nigeria.
This program, known as the Sterling Women Empower Fund (SWEF), is a collaboration between Sterling Bank and the Development Bank of Nigeria (DBN). It provides financial support to female entrepreneurs who need capital to start, grow, or scale their businesses.
The goal is to bridge the gender financing gap, promote inclusive growth, and boost women’s participation in the Nigerian economy.
What is the Sterling Women Empower Fund?
The Sterling Women Empower Fund (SWEF) is a dedicated credit line within the Sterling Bank DBN partnership that supports women-led MSMEs with affordable loans, financial literacy, and business advisory services.
It targets women with viable business ideas or existing enterprises that need expansion funds.
Eligibility Criteria
To qualify for the Sterling Bank and DBN Funding Scheme, applicants must meet these conditions:
- Must be a woman or own at least 50% of the business.
- The business must be registered with the Corporate Affairs Commission (CAC).
- The business should fall within any productive or service-driven sector.
- Must have a clear business plan or record of financial performance.
- Must have an active business account (Sterling Bank customers are prioritized).
- Must demonstrate capacity for loan repayment.
Benefits of the Sterling Bank and DBN Funding Scheme
The Sterling Bank and DBN Funding Scheme gives women-owned businesses the capital and flexibility to grow with confidence.
- Get up to ₦75 million to expand your business.
- Enjoy a 3-year flexible repayment plan that fits your cash flow.
- Access funding designed for women entrepreneurs across Nigeria.
- Benefit from a credible partnership backed by the Development Bank of Nigeria (DBN).
- Receive business support and guidance at every growth stage.
The Sterling Bank DBN initiative helps women turn strong ideas into lasting enterprises.
Also Apply: Bet9ja Foundation Scholarship 2025 | How to Apply, Requirements, and Benefits
Who Can Access This Facility?
Any female entrepreneur who operates a registered MSME in Nigeria can apply.
You do not need to run a large company. The Sterling Bank DBN facility supports both new and existing businesses.
What Sectors Are Eligible?
The Sterling Bank and DBN Funding Scheme covers several growth-oriented sectors such as:
- Agriculture and Agribusiness
- Manufacturing and Processing
- Education and Health Services
- Renewable Energy
- ICT and Digital Services
- Trade, Retail, and Distribution
- Creative Industry and Fashion
If your business falls within these sectors, you have a strong chance of approval.
What Are the Available Loan Limits?
The Sterling Bank DBN scheme offers flexible loan amounts depending on the size and capacity of your business:
- Micro businesses: ₦500,000 to ₦5 million
- Small businesses: ₦5 million to ₦20 million
- Medium enterprises: ₦20 million and above
Loan limits are determined by your cash flow, business plan, and repayment capacity.
Do I Need to Provide Collateral?
Yes, but with flexibility.
The Sterling Bank and DBN Funding Scheme accepts a range of collateral options, including business assets, fixed deposits, or guarantees.
Collateral requirements are minimal compared to traditional bank loans.
Apply: Meraki Afrique Writing Competition
What Is the Repayment Tenor?
Repayment terms range from 12 to 60 months (1 to 5 years), depending on the loan size and business cash flow.
The Sterling Bank DBN structure allows borrowers to enjoy reasonable interest rates and longer tenors.
Do I Need to Be a Sterling Bank Customer to Apply?
Not necessarily, but being a Sterling Bank customer increases your approval chances.
Non-customers can still apply but may need to open a business account during the process.
How Affordable Is the Loan?
The Sterling Bank DBN loan is one of the most affordable credit facilities in Nigeria.
Interest rates are subsidized through DBN’s intervention program to ensure women access financing without excessive financial burden.
How Long Does It Take to Process the Loan?
Processing takes about 2 to 4 weeks, depending on document readiness and verification speed.
The Sterling Bank DBN loan process is faster for applicants who submit complete and accurate documentation.
Documents Needed
Before applying, prepare the following:
- CAC business registration certificate
- Valid identification (National ID, International Passport, or Driver’s License)
- Recent passport photograph
- Business plan or proposal
- Six-month bank statement
- Proof of business address (utility bill or lease)
- Tax Identification Number (TIN)
- Collateral documents (if required)
Having these ready will speed up your Sterling Bank and DBN Funding Scheme application.
Selection Process
The selection follows a transparent process to ensure fairness and quality.
- Application Review: Sterling Bank screens all entries.
- Document Verification: DBN validates submitted information.
- Business Evaluation: A review team assesses business viability.
- Approval and Offer: Successful applicants receive loan offers.
- Disbursement: Funds are released to approved accounts.
The Sterling Bank DBN process is merit-based and favors businesses with realistic growth plans.
Tips for a Strong Successful Application
To stand out during the Sterling Bank and DBN Funding Scheme selection process:
- Submit a complete and clear business plan.
- Ensure your CAC documents are updated.
- Keep your business financials accurate.
- Highlight the social and economic impact of your business.
- Show how the funding will expand your operations.
- Maintain a good credit history.
These steps improve your credibility and funding chances.
Also Apply: Apply for ₦15 Billion GIBC Fund for 10,000 SMEs Business Growth 2025 | Full Application Guide
How to Apply (Step-by-Step)
Follow these simple steps to apply for the Sterling Bank DBN ₦20 Billion Funding Scheme:
- Go to the official Sterling Bank Portal
- Click on Apply Now.
- Fill out the online application form with accurate details.
- Upload all required documents.
- Submit your application for review.
- Wait for a response via email or SMS.
You can also visit any Sterling Bank branch forSterling Women Empower Fund nationwide for offline application support.
Start your application today through the Sterling Bank DBN platform and position your business for sustainable growth.
CLICK HERE to Register for the Sterling Women Empower Fund
Great insights on baccarat strategies! It’s refreshing to see content that balances logic with experience. For those looking to test these methods in real play, platforms like JiliOK offer a seamless and secure environment with AI-backed gameplay enhancements.