FAQs

SME Exclusive FAQs

Find answers to your frequently asked questions

SME Xclusive is an ecosystem that has been developed to cater to the needs of entrepreneurs. Through SME Xclusive, customers/prospects can have access to the Sterling bank’s offerings to scale their business

  • SME Xclusive is an ecosystem that has been developed to cater to the needs of entrepreneurs. Through SME Xclusive, customers/prospects can have access to the Sterling bank’s offerings to scale their business

This is an online lending platform that allows entrepreneurs to get up to N5,000,000 loan without collateral and at a differentiated interest rate. Kindly contact us or visit the closest Sterling bank branch to process loan amounts above N5m. Terms & Conditions apply.

All business sectors are eligible for the BSF loan. Terms & Conditions apply.

New customers to Sterling will be required to open an account via the lending platform or by using the Online Corporate account

Tax Advisory
ERP deployment
Business Registration
Website creation
Business Diagnostic Tool
Loan Calculator

The online community is a platform for all business entrepreneurs to network and get business ideas that will help them expand their businesses.

The online community is open to all business accountholders with Sterling Bank.

The business diagnostic tool helps business owners determine the health of their businesses by asking a series of business-related questions. The entrepreneur also has access to our Business Advisors if he so desires.

For further enquiries please contact SME.ADVISORYHELPDESK@sterling.ng

General Loan Products FAQs

Find answers to your frequently asked questions

​Sterling SME Xclusive offers several loan products to SMEs which includes but are not limited to; Business Support Facility, Contract Finance, Working Capital Finance, Distributorship Finance, Term Loans, Overdrafts etc.
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Most of the loans do not require Collaterals up to N5million limit. The main focus is on cash flow and the ability to repay the loan.

SME products from Sterling are priced quite competitively and change with market realities. Basically, our loan schemes adopt a differentiated pricing model for SME borrowers based on a predefined scoring matrix. Concessions are also granted to SMEs where there is adequate business justification.

Unregistered companies are not recognized entities by law; therefore Sterling is constrained in lending to them.

All sectors of the economy except for illegal sectors are eligible to access and enjoy the loan without restrictions.

This is subject to a number of factors which include the business cash flow, purpose of the loan etc.

Moratorium on facilities is allowed, however, it depends on the business justification and transaction dynamics.

 It depends on the type of loan. Not all loans require equity contribution.

Yes, every SME is required to have or open an account with Sterling before applying for a loan facility.

Yes, as long as the cash flow can accommodate all exposures.