Sterling Bank Plc has announced the launch of its new loan product, ‘‘I Go Trade”.
The bank said the move is to further bridge the gap in financial inclusion and deliver customer-centric solutions for its diversified customer base.
A statement from the bank also said that the product will provide artisans and other small business owners across communities with quicker access to low-interest and collateral-free loans up to N300,000.
Commenting on the new product, Shina Atilola, Divisional Head, Retail and Consumer Banking, explained that the product was specifically designed to cater to the needs of artisans and micro-traders living in marginalised communities.
He stated: “Across many institutions nationwide, getting a loan requires stringent processes and heavy paperwork which several small business owners find discouraging.
“With ’I Go Trade’, this process has been drastically simplified. Customers, especially small business owners, traders, and artisans can get loans at low-interest rates with no collateral and without having to physically visit the bank.”