Today, Standard Chartered launched the Smart Business Loan (SBL) product for Nigerian clients. SBL is an unsecured installment / term loan granted to merchant bank clients in key target sectors.
Qualified business banking clients will be able to access a loan of up to N20 million without providing any tangible collateral / guarantee to purchase assets, finance business expansion and other business spending needs. investment.
This loan is intended to help SMEs meet their short and medium term needs.
Speaking on the product, David Idoru, Head of Personal, Personal and Business Banking (CPBB), Nigeria, said: âAs a bank, our goal is to boost trade and prosperity in the locations where we operate. This is done by offering cash, credit, commerce and wealth management solutions that specifically drive economic growth. Within our CPBB, much of the promotion of commerce is done through our Business Banking segment by Small and Medium Business Banking We are constantly looking for ways to ensure our clients have access to the support necessary to enable their businesses to thrive and SBL provides the flexibility to grow the business.
He added that prior to the product launch, clients were required to provide full collateral coverage to access the Bank’s Business Banking segment loans, but SBL provides the flexibility for our clients.
It is accessible to new and existing clients of the Bank without a waiting period, including small and medium-scale organizations, and they can access up to 20 million Naira in unsecured loans for up to 2 years.
For more information or interview opportunities, please contact: Dayo Aderugbo Head, Corporate Affairs, Brand and Marketing Standard Chartered Bank Nigeria + 234 802 931 4012 [emailÂ protected]
We are a leading international banking group, with approximately 70,000 employees and a 150-year history in some of the world’s most dynamic markets. We bank the people and businesses that drive investment, trade and wealth creation in Asia, Africa and the Middle East, where we earn about 90% of our income and profits. Our heritage and values ââare expressed in our brand promise, Here for good. Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges as well as the Bombay and National Stock Exchanges in India.