Access Bank Unveils DBA Lite to Empower Young Entrepreneurs

Access Bank has launched a new product, Diamond Business Advantage (DBA) Lite, to support youth-led enterprises and boost access to digital loans for micro, small, and medium businesses across Nigeria.

The bank introduced DBA Lite during a recent event in Lagos. This new account targets young entrepreneurs at all stages—whether they are just starting, already operating, or looking to scale. DBA Lite builds on the earlier Diamond Business Account, which originated under Diamond Bank before its merger with Access Bank. Now, Access Bank has upgraded the offering to better serve the goals of Nigeria’s youth.

According to Access Bank’s Executive Director, the new product tackles a major challenge for small businesses—access to affordable credit. Through DBA Lite, eligible business owners can apply for digital loans ranging from ₦50,000 to ₦5 million. This move, he explained, is part of the bank’s effort to support national growth by empowering entrepreneurs to thrive.

Currently, Access Bank leads Nigeria’s digital lending space. It provides more than half of the country’s digital loans. Daily, the bank disburses between ₦18,000 and ₦20,000 in microloans. In 2020 alone, the bank issued loans worth ₦100 billion to about 4 million Nigerians. Looking ahead, the bank aims to surpass ₦120 billion in loan disbursements by the end of 2021, with monthly payouts now between ₦12 billion and ₦13 billion.

Faster Loans with Fewer Requirements

DBA Lite is designed to simplify access to finance. It features minimal documentation, quick processing, and affordable loan terms. In addition, the product gives entrepreneurs access to markets, financial services, and payment platforms. This initiative fits into Access Bank’s broader mission to drive financial inclusion and support the sustainability of youth-run businesses.

With the rollout of DBA Lite, Access Bank is reinforcing its leadership in Nigeria’s digital finance sector. By making it easier for young business owners to get funding, the bank is not only helping reduce unemployment but also contributing to long-term economic development.

DBA Lite is designed to make getting business loans easy and quick. The account requires little paperwork and offers simple, affordable loan options. It also connects young business owners to markets, financial tools, and payment services. This product is part of Access Bank’s plan to support small businesses and promote financial inclusion.

With this launch, Access Bank is strengthening its position as a leader in digital finance in Nigeria. By backing youth entrepreneurship and making it easier to access business funds, the bank aims to help reduce unemployment and grow the country’s economy.