Business Recovery Loans supported by Bank of Namibia

To assist distressed SMEs who are already DBN borrowers and are affected by economic headwinds to meet their working capital requirements, DBN is making available finance, supported by a joint initiative of Bank of Namibia and the Ministry of Finance and Public Enterprises.

Features

• The minimum amount is N$150,000 and the maximum is N$10 million
• Interest rate of prime less 0.50%
• A grace period of 6 months on interest and capital will apply
• Repayable in monthly installments over a period of up to 7 years
• Suitable for SMEs
• Available only to existing DBN borrowers

Suitability

The loan is suitable for:

• Operational expenses such as salaries, rent and lease agreements, contracts with suppliers.

Terms

• During the grace period, interest will be capitalised.
• Loans are subject to the requirements of DBN, and will be offered at the sole discretion of DBN.
• A grace period will be considered on a case-by-case basis.

Which loan is suitable for you?

Compare KfW and BoN recovery loans, here...

Application downloads

	BoN Recovery Loan info sheet
	Application form for finance
	SME application guide
	Application guide
	Application checklist
	Products info sheet
	Know-your-customer requirements
	ESMP guideline
	Environmental and social management
	Exclusions

Application requirements

• The Development Bank of Namibia application form must be completed in full.  
• A business proposal and cash flow projection must be provided.
• Collateral will be considered on a case-by-case basis.
• All documentation as required in the application form must be provided to avoid delays on applications and decisions.

Eligibility

This facility covers existing DBN borrowers. New businesses can apply for finance under the normal DBN facilities. The following eligibility requirements apply:

• Namibian-registered businesses, operating in Namibia
• Annual turnover not exceeding N$60 million
• Must demonstrate solvency, and be able to continue operations for the foreseeable future
• May not have an economic recovery loan with another financial institution
• Have insufficient normal borrowing capacity to fully fund monthly operating expenses (will be required to demonstrate this in the application)
• At least 6 months’ current, continuous bank statements for the business
• At least 25% shareholding owned by Namibian citizens
• Good standing with Receiver of Revenue & SSC, VAT and tax registration
• KYC compliance & adherence to all national and local social and environmental legislation and regulations

Exclusions

• Enterprises seeking to refinance existing loans
• Section 28 companies
• Enterprises involved in sale / trade of liquor, gambling or with other socially damaging activities