Stanbic IBTC Launches Business-specific Loans For SMEs

Be informed that the Stanbic IBTC Bank Plc has rolled out a business-specific loan facility to assist Small and Medium Enterprises (SMEs) in order to enable them meet up with the expected surge in patronage during the yuletide season.

While speaking during the virtual launch of the loan, with the theme: “SME Loan: Meet Your Short Needs This Festive Season”, the Team Leader, Remilekun Ishola, said that the SME loan was launched to cushion the effects of the current volatile economic situation on Small and Medium Enterprises across the country.

The loan facility offers speedy, smooth and robust funds to entrepreneurs who seek urgent fund to boost their business needs during the festive period.

Ishola disclosed that the bank chose to make the product accessible for business owners in order to enable them to restock their goods due to the expected surge in patronage due to various discounts available to customers during the yuletide.

According to her, short-term loans ranges from N50,000 to N10 million are available to registered SMEs and can be requested via the Stanbic IBTC Mobile Super App with ease and convenience. The loan offers tremendous benefits, such as repayment flexibility, limited documentation and zero collateral requirements.

Ishola said:

“Worthy of note is the ease of the loan’s accessibility, as this solves one of the key issues faced by SMEs in Nigeria. Access to adequate funding during the festive season is a major problem for most businesses, and we are certain that the SME loan will aid small businesses in accommodating the influx of customers who will require their services”.

Source: Nyscinfo

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