The bank does not provide overdraft facilities since these are short-term in nature.
Can my business access an Overdraft facility from NBM Development Bank?
How do I apply for funding for my SME business from the bank?
All applications can be submitted through the bank’s email address devbank@natbankmw.com or a physical copy of the documents may be submitted at the Bank’s offices in NBM Towers, Henderson Street, Blantyre or any NBM Service Centre across the country.
Does the development bank provide short-term financing?
The bank does not provide financing below 2 years in tenor.
Does my existing business qualify as an SME?
For an existing business to be classified as an SME its annual turnover must not exceed K1.5 billion.
How are the loan proceeds disbursed?
Loan proceeds are disbursed directly to suppliers of various goods and services.
What security is required to access funding from NBM Development Bank?
The security requirements will vary depending on the risks inherent in the project.
What are the interest rates?
Interest rates shall be negotiable and there shall be a margin above the Reference Rate. The nature of the project, results of the risk assessment process and security provided shall determine the final interest margin.
How do I get assistance to develop a business proposal?
The bank has screened pre-qualified consultants whom you may engage to assist you with developing a business plan or project proposal at your own cost.
What if my financing requirements exceed NBM Development Bank’s facility limit?
If the financing requirement exceeds NBM Development Bank’s facility limit, the bank will seek collaboration from other co-financiers to assist in the capital raising process to meet the funding gap.
What are the requirements for accessing funding from NBM Development Bank?
A credit application including a business proposal or project proposal and other supporting documents as per the credit application checklist must be submitted to the bank for consideration of funding.