Stanbic IBTC Bank Business Loans – Get a loan to expand your operations, create opportunities and grow your business with Stanbic Loan today.
BENEFITS OF OUR BUSINESS LOANS
1. SME Loan
Do you need working capital for your business? The SME Loan is a tailored made lending facility that is available to businesses for meeting working capital needs and to achieve business goals.
- Availability of short-term working capital to customers
- Bridging short term financial needs
- Business growth for customers.
- Applicant’s formal letter of request for loan
- Satisfactory credit checks from 2 credit bureaus
- Banking history of at least six months with Stanbic IBTC Bank or 12 months with other Banks
- Registered enterprise or limited company (Incorporation) Documents to be provided
- Tax Identification Number (TIN)
- Upon loan approval, duly accepted Offer Letter.
- TOD and Advance: 26% with free insurance
- Short Term Loan: 30% with free insurance
- Management Fee: 1%
* There is no concession on the pricing
2. Financial Solutions for Healthcare Sector
Apply for Stanbic IBTC Bank Business Loans – Do you have a healthcare business? Our healthcare solutions are tailor-made for players in the sector to meet working capital needs, expand your healthcare operation, acquire medical equipment, facilitate medical research and grow your business.
SOME OF THE BENEFITS
- Flexible Repayment
- Funding
- Medical Equipment
- Business Expansion
- Applicant’s formal request letter
- Satisfactory credit checks
- Minimum of one year banking history with Stanbic IBTC or other banks
- Registration with CAC and other relevant regulatory authorities
- Minimum of two years in operation
- KYC compliance
- Available to all players in the healthcare sector (Hospitals, Clinics, Pharmacies, Laboratories, Pharmaceutical companies, Diagnostic Centers, Gyms, and so on).
- Easy access to financing for business expansion and growth
- Medical equipment finance under our partnerships
- Flexible tenor of up to 10 years
- Working capital to stock up and run your healthcare business on a day-to-day basis
- Access to CBN Intervention fund for healthcare businesses
ADDITIONAL BENEFITS THROUGH PARTNERSHIP WITH ISN MEDICAL AND MEGAMEDEX
ISN MEDICAL
- Access to up to N1.5 billion in medical equipment finance
- No interest on the loan on this partnership
- No additional collateral
- No importation hassles
- No FX sourcing issues
MEGAMEDEX PARTNERSHIP
- Access over N10 million in overdraft and term loans
- Access up-to N10 million without collateral to stock up your pharmacy
What is the collateral required?
Apply for Stanbic IBTC Bank Business Loans – The collateral requirement depends on the loan type and the use for which it will be applied. Acceptable forms are legal mortgage, money market investments & asset debenture.
The tenor is for up to 10 years
Distributor Finance
If you’re a large manufacturer, or a distributor of wholesale goods, Distribution Supply Chain Finance is the perfect solution for flexible loans to help maintain your cash flow.
Long and short-term RE-PAYMENT TERM
SOME OF OUR BENEFITS
Free business monitoring solutions
Flexible terms
Flexible repayment terms
Support
Access to a dedicated business relationship manager
Affordable solutions
Competitive interest rates
What You Get
- Improved turnover by managing your cashflow through short-term working capital finance.
- Convenient collateral terms and options (cash, legal mortgage).
- Competitive interest rates.
- Manageable loan ratios of your turn-over to ensure that you are not over-leveraged.
- Affordable insurance to go with your finance
- Free business monitoring solutions.
- Dedicated relationship managers with vast experience.
- Referral business
What It Costs?
- Interest is calculated based on your financing needs and your repayment terms.
How To Get It
You will be requested to provide the following documentation on applications:
- Letter of Introduction of the Distributor from the Principal
- Statement of account with Principal (past 12 months)
- Facility letters of existing/previous facilities with other banks
- 6 -12 months banks statement
- Three-year audited financials (Where applicable)
- Distributor’s letter of request
- Inventory report and collateral documentation
- Company’s profile and incorporation documents
Trade Finance
We offer Import and Export products to help you trade your goods and services across borders.
SOME OF THE BENEFITS
We support import and export
Global
Available in 13 different International currencies
Secure
The safest way to manage your imports and exports
Reliable
Maintain cash flow while transacting across borders
What To Get
- Available to support both import and export transactions.
- Most secured mode of payment in international trade.
- Available in 13 currencies globally.
- Risk of non-payment and non-delivery does not exist as both parties are bound by conditions that must be met for both delivery and payment.
- Safest and most secured method of payment compared to other methods of payment.
- Provides financing structure for importers and exporters.
Inward letters of credit (Export)
- You will need to pay N5 000 for the processing and registration of Nigerian Export form.
- To verify the authenticity of the credit, you will pay a fee of N2 000.
- To rewrite the credit, you will pay a fee of N0.5 per mille subject to USD25 or its equivalent.
- For confirmation of commission, 1% subject to a minimum of N5 000 is paid.
- You will pay 0.5% of face value where all or part of the credit is transferred.
- 1% is charged on the negotiation of document commission, plus interest if applicable at the local rate
Outward letters of credit (Import)
- 1% of face value is charged on credit up to 180days, 1.25% of face value on credit up to 270 days and 1.5% on credit up to 360 days.
- A commission of 1% is payable where the letter of credit is extended for a period in excess of 12 months from the date of establishment or re-establishment.
- A fee of N5 000 is to be paid on extensions.
- You will pay N2 000 on any other amendments
- You will be charged N3/mille per month where the bill is less than 1 year.
- You will also be charged N5/mille per month where bill exceeds 1 year.
- N2 500 will be charged if your risk assessment report doesn’t come with a valid FX form M and nothing will be charged if your risk assessment report comes with a valid FX form M.
HOW TO BENEFITS
Please visit a Stanbic IBTC Bank branch near you or call 0700 CALL STANBIC (0700 2255 7826242) or +234 01 270 9676 or email customercarenigeria@stanbicibtc.com
FOR MORE INFORMATION, CLICK HERE
