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Home Industries Corporate Press Releases

Standard Chartered launches Smart Business Loan (SBL)

NM PressbyNM Press
1 year ago
in Corporate Press Releases, Financial Services
Standard Chartered launches Smart Business Loan (SBL)
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Today, Standard Chartered launched the Smart Business Loan (SBL) product for customers in Nigeria.

SBL is an unsecured instalment/term loan to Business Banking clients within key target sectors. Qualified Business Banking Clients will be able to access up to N20 million loan without providing tangible security/collateral to purchase asset, finance business expansion and other capital expenditure needs.

This loan is designed to help SMEs meet its short to medium term needs.

Speaking on the product, David Idoru, Head of Consumer, Private and Business Banking (CPBB), Nigeria said, ‘’ As a Bank, our purpose is to drive commerce and prosperity in the locations we operate in. This is done through offering cash, lending, trade and wealth management solutions that specifically drive economic growth. Within our CPBB, the promotion of commerce is largely done through our Business Banking segment by banking Small and Medium sized enterprises. We are constantly looking for ways to ensure our clients get access to the needed support to enable their businesses thrive and SBL provides the necessary flexibility for Business growth.

He added that prior to the launch of the product, clients were required to provide full collateral cover to access loans from the Bank’s Business Banking segment however SBL provides the necessary flexibility to our clients.

It is accessible to new and existing clients of the Bank with no waiting period, including Small and Medium Scale organisations, and they can access up to N20m in loans without collateral for a maximum tenure of 2yrs.

Related

Tags: SBLSmart Business LoanStandard Chartered

Comments 6

  1. temitope raphael says:
    September 30, 2021 at 12:53 pm

    How to apply for the loan Standard Chartered launches Smart Business Loan (SBL)

    Reply
    • Ruth mojisola Ogundoro says:
      September 30, 2021 at 4:47 pm

      Big congratulations for this loan facilities but how real is this loan,will it be available for small scale business owner really and far about the interest will it be friendly

      Reply
  2. Dogara Luka Nadada says:
    September 30, 2021 at 5:31 pm

    Very interesting, so please how can I apply for the loan to enable me expand my business here in Katsina, am expecting your quick response. Thanks
    Dogara Luka Nadada

    Reply
  3. Zubairu abdulmuminu says:
    September 30, 2021 at 10:41 pm

    Payment

    Reply
  4. Iroboinose Roland A. says:
    October 1, 2021 at 10:22 am

    My name is Iroboinose Roland A. I am interested in this loan I can I get the loan for business purposes pls I need a direction

    Reply
  5. Iroboinose Roland A. says:
    October 1, 2021 at 10:24 am

    I am interested in this loan I can I get the loan for business purposes pls I need a direction

    Reply

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