Sterling Bank Partners Credit Cafe Africa to Finance School Loans
Sterling Bank Plc and Credit Café Africa have signed a memorandum of understanding (MoU) to provide health and education loans and other value-added services to existing and potential customers.
Speaking at the signing ceremony held recently in Lagos, the Divisional Head for Business Growth and Partnerships at Sterling Bank, Obinna Ukachukwu, said the service would cover nursery, primary, and tertiary institutions proprietors, as well as hospitals, clinics, pharmaceutical companies, and diagnostic centres, among others.
“Customers can receive between N100,000 and N20,000,000 (the single obligor limit under this partnership is N20 million) in financing under the terms of the agreement, depending on the applicant’s financial needs,” he stated.
The founder/Chief Executive Officer of Credit Café Africa, Mr Louis Gyiman, said his organisation would make it possible for customers of Sterling Bank to have access to finance through the credit facility template faster and more efficiently.
Gyiman added that the facility would enable potential customers to personally monitor everything related to the credit and build up credibility in the system.
The CEO described this as seamless and effective.
Under its HEART strategy, Sterling Bank has been focusing its investments primarily on five sectors of the economy: health, which includes Health, Education, Agriculture, Renewable Energy, and Transportation.
