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 N20million 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.
-ENDS-

For more information or interview opportunities, please contact: Dayo Aderugbo Head, Corporate Affairs, Brand and Marketing Standard Chartered Bank Nigeria + 234 802 931 4012 [email protected]

Standard Chartered
We are a leading international banking group, with around 70,000 employees and a 150-year history in some of the world’s most dynamic markets. We bank the people and companies driving investment, trade and the creation of wealth across Asia, Africa and the Middle East, where we earn around 90 per cent of our income and profits. Our heritage and values are expressed in our brand promise, Here for good. Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges as well as the Bombay and National Stock Exchanges in India.

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