Sterling Bank launches digital loan application system for Corporates, Commercial Businesses

COMFORT EKELEME

Sterling Bank Plc, has launched a one-stop digital solution for all corporate credit solutions, particularly for business and corporate enterprises.

The new product, known as Gazelle, is a versatile digital loan application system that provides corporate customers with a more innovative way to finance their business.

Managing Director and Chief Executive Officer (MD/CEO) of the Bank, Mr. Abubakar Suleiman, said, “With Gazelle, corporate customers will experience a smarter way to access finance and achieve sustainable growth for their businesses.”

He remarked that launching the product, among other digital banking products, has positioned Sterling Bank as a leader in innovative digital solutions in the corporate lending space for businesses.

The CEO urged business owners to visit gazelle. ng on the internet to get loans faster and more conveniently to meet the needs of their businesses.

On how the product works, Mr. Suleiman listed the steps that a prospective customer goes through to sign up for the service:

First, the customer sets up a profile for the business and begins the business evaluation process by answering all relevant questions regarding the company while uploading the required supporting documents.

Next, the business profile is approved after the customer has received an obligor assessment report following the validation of the information and documents provided. Once the profile is approved, the customer can request a loan and get a decision from the bank.

The loan will then be disbursed if the customer meets the conditions for loan disbursement and receives said loan through its preferred channel.

Sterling Bank is one of the leading banks in digital banking services. Some of the bank’s other digital products include Specta, PaywithSpecta, Imperium, Omni X, Doubble, I-invest, Alt Mall, and OneBank.

The bank has recently recorded more than 220 per cent growth in retail lending through Specta, its flagship online lending solution, and its variant, PaywithSpecta.

Consequently, through Specta, Sterling has been able to empower individual Nigerians by granting them credit to enhance their financial lives as well as push for gender parity in lending, a development which has resulted in granting more than N12 billion in loans to women.

Also, the bank has disbursed more than N29 billion in loans through PaywithSpecta (PwS) because of its focus on sustaining small businesses. PwS has also enabled more than 4,300 merchants to receive instant payment for their goods, improving their cash flows while allowing consumers to enjoy services immediately and conveniently pay in installments.