Lagos-headquartered Stanbic IBTC Holdings Plc, which offers banking and related financial services in Nigeria and across the West African region, has introduced a short-term loan solution aimed at augmenting working capital for small and medium enterprises (SMEs). This pragmatic loan facility not only allows SMEs to avail loans with ease and convenience, but will also offer benefits that include limited documentation with no collateral and repayment flexibility. Stanbic IBTC is a member of Standard Bank Group. This newly-launched temporary overdraft offers financial credits to both existing and new SMEs within 24 hours and has a maximum loan repayment duration of 90 days.
