Sterling Bank launches new loan product for traders

Sterling Bank Plc has announced the launch of ‘I Go Trade’, a new loan product that provides artisans and other small business owners across communities with quicker access to low-interest and collateral-free loans up to N300,000.

According to Shina Atilola, Divisional Head, Retail and Consumer Banking, the loan affords beneficiaries the luxury of financial flexibility, allowing them to obtain the funds needed to acquire inventory, working capital, and other assets needed to stay afloat and ultimately yield sustainable profit. The product was specifically designed to cater to the needs of artisans and micro-traders living in marginalised communities.

In most institutions, getting a loan requires stringent processes and heavy paperwork which could be discouraging. According to the bank, “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.

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