Getting business loans from the banks (3)


Stanbic IBTC

We are now on the third portion of this series on MSMEs’ getting business loans from banks in which we have focused on the offers from Stanbic IBTC Bank. We have discussed just one offer which is what they call SME Overdraft.

It should be re-emphasized again that this discussion is by no means exhaustive of all there is in the item or product, meaning that it could serve as basic information while more information could be obtained by visiting the bank.


We now turn to what the bank calls, Business Loan for SMEs.

The Business Loan provides funds which you can repay over one to five years. You repay the loan in monthly set installments. The bank says this is aimed at working with the business owner to achieve whatever the business plans or goals are.

This clearly indicates the primary importance of a sound business plan in this offer. We shall be focusing on the business plan soon.

But the bank says the business loan could be fixed or revolving. We shall be discussing the differentiating characteristics of the two also in our later editions.

Where you use the loan to buy an asset such as production equipment, that equipment would be owned by the bank until you repay the loan in full and then the asset becomes yours.

The bank says the repayments are structured to suit your business’ cash flow.

In addition, the bank also says you’ll get access to affordable insurance for your loan, meaning that the loan comes with an insurance packaged to fit into your cost of business.

Next week we discuss some basic requirements for accessing this business loan.


Source link

قالب وردپرس

We hope you enjoyed reading the above post. How about helping us share the information to your fans and friends on social media? Meanwhile, you can rely on us daily for the latest and relevant free forex trading signals, free forex trading market news, free forex trading technical levels, weekly Pool draws, latest news from Nigeria and the world, educational articles and quality academic information, insurance news and scientific knowledge.

Do you need a classical ORGANIST or an excellent music teacher? CALL Fabian on 08033983034 or email him at

Follow us on twitter @newsbeatportal

learn how to make profit from your losing bets on nairabet, bet9ja, merrybet, surebet. 07030635051
Engage #SantexTech today to build & install inverters, training on inverters & other electronic designs, projects/kits. Call 08039574535

Click to join Talk Nigeria Today, a group where hot, controversial, and breathtaking issues are brainstormed upon.

Konga Verified Blogger

Leave a Reply