Apart from business ideas, funds are very important at the stage of implementation or for expansion, that’s when credit facility for small business owners is very important.
As such, Stanbic IBTC SME loan is one of the credit facilities entrepreneurs in Nigeria can obtain to achieve their business goals.
In one of our guides, we told you about the official launching of Zenith Bank Grow My Business Account, here are the requirements to get a Stanbic IBTC SME loan:
1) Must have an active bank account with Stanbic ibtc for at least six months
2) Submission of letter of request for a loan if have your bank with another financial institution
3) You must have a pass mark from 2 credit bureaus
4) Your business or company must be registered with the corporate affairs commission (You can check our guide on how to register your business at: )
5) You must have Tax Identification Number (TIN)
6) Acceptance of loan upon approval.
Note: One percent of the management fee applies
Benefits:
- There is short-term working capital to customers
- Better interest rate than some loan apps
- You get a minimum loan of NGN50,000 and a maximum of NGN10,000,000, depending on the size of your company and your financial history with the bank