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Sterling Schools Connect

Sterling Bank, in partnership with TeacherConnect, is offering a free nationwide training for private school owners and administrators to improve operations, access funding, and build sustainable schools.

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Easy & Accessible Loans for Schools

We provide lending facilities and support for private Nursery, Primary, Secondary & Tertiary institutions with the goal of promoting literacy, access to education and improved educational services.

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Education Term Loan for Schools

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Working Capital Facility

Designed to finance the purchase of school deliverables, payment of salaries and other working capital needs.
Features
  • Obligor: Uncollateralized Up to N20m
  • Collateralized up to N50m
  • Interest Rate: 36% p.a
  • Tenor: Up to 12 months
Apply
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Asset Finance

Designed to finance the purchase of assets such as school buses, solar systems, generators, etc.
Features
  • Obligor: Uncollateralized Up to N20m
  • Collateralized up to N50m
  • Interest Rate: 38% p.a
  • Tenor: 24- 48 months, depends on if the asset is brand new or a used one.
Apply
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Development Finance

Designed to finance the acquisition of schools, construction of schools and other development on school site
Features
  • Obligor: Uncollateralized Up to N20m
  • Collateralized up to N100m
  • Interest Rate: 38% p.a
  • Tenor: 24- 60 months
Apply
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Sterling Edu-Loan

Designed to facilitate the finance of working capital requirements and provision of other short term relief finance
Features
  • Obligor: N500,000 - N10m maximum
  • Interest Rate: 36% p.a
  • Tenor: 12-20 months
Apply

Eligibility Criteria

  • A minimum of 12 months banking relationship with any Bank.
  • The school must be actively operational for at least 3 years.
  • The Bank’s collection platform (REMITA, EBIllspay, Eduportal, POS, Internet Banking, EduBanc, etc.) must have been activated before applying for the facility.
  • The school must have clean credit reports.
  • Schools to be financed under this Product Program should be located in State Capitals and other cosmopolitan cities where Sterling Bank has a presence.
  • A minimum school population of 100 students shall be the benchmark.
  • Schools cannot access more than 2 products simultaneously. The cumulative limit shall not exceed 30% of the school’s annual turnover, unencumbered.
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FAQ

Frequently Asked Questions

Get Started with Sterling Education Finance

Fill out the form to apply for Education Financing.

Partnerships

Empowering Educators for Success

Sterling Opportunity INtl

We’ve partnered with Opportunity International, a global leader in Edu-finance, to empower teachers and school leaders. Through the School Leaders Program, we will equip educators with the resources and support they need to flourish, ultimately driving growth, innovation, and positive change across all levels of education.

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