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Easy & Accessible Loans for Schools

Get valuable insights, practical strategies, and the latest tools and techniques to help you optimize your school's operations. Join the School Leaders’ Training Program.

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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 registration of schools desiring to establish structure and provision of other 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

What is the School Leaders' Training Porgram

We’ve partnered with Opportunity International, a global leader in Education 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.

What types of facility that can be accessed via Term loan for Schools
  • Working Capital Facility
  • Asset Finance
  • Development Finance
  • Sterling Edu-Loan
Can I access an uncollateralised loan my school?

Yes, You can access up to N20m uncollaterised

How much secured loan can I access under Working Capital Facility?

For Secured Loans, structured schools can access a maximum of N50million.

What is the maximum limit that I can access under Working Capital Facility?
  • Unstructured Schools, can access 30% of their annual turnover, subject to a maximum of N5 million.
  • Structured Schools can access 50% of their annual turnover, subject to a maximum of N20 million
What is the equity contribution required for Asset finance?

A minimum Equity Contribution of 20% is required

What is the maximum Tenor for a Development Finance?

Structured Schools can enjoy a maximum tenor of 60 months while Unstructured Schools can enjoy 24 months.

What is the maximum amount that can be financed for Development Finance?

Schools can access 50% of their annual turnover, subject to a maximum of N100 million.

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.

Sign up

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