Thursday, July 31, 2025
24.1 C
Lagos

Stanbic IBTC Supports Educational Institutions with School Loans

Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC, has introduced a School Loan product for private primary, secondary and tertiary institutions, to enable them meet their short-term financial requirements.

After several months of physical and economic disruption due to the COVID-19 pandemic, schools are gearing up for proper resumption to contribute meaningfully towards national development continually. One of the apparent effects of the pandemic on the educational sector is the inadequacy of funds.

The Stanbic IBTC School loan is available to privately owned schools for the establishment, expansion or upgrade of primary and specialised facilities. It can also be used for short term working capital requirements.

Remy Osuagwu, Executive Director, Personal and Business Banking, Stanbic IBTC Bank PLC, said “The School loan product is designed to support institutions which have been in operation for at least five years. We understand the current financial situation of the country, especially the effect of the pandemic, which has disrupted plans and processes.”

“Stanbic IBTC will continue to provide solutions aimed at mitigating the effect of the pandemic on both individuals and organisations,” he added.

Remy further reiterated that the School loan product is not restricted to the pandemic period as institutions can always apply for it. The tenor of the loan ranges from 90 days to 48 months, and the minimum applicable loan is N1 million.

spot_img
spot_img
spot_img

Hot this week

Two NCDMB Leaders Bag Doctorate Degrees at UNIPORT Convocation

Two senior officials of the Nigerian Content Development and...

Sovereign Trust Insurance Reports 109% Insurance Revenue Growth in 2024

Sovereign Trust Insurance Plc recently released its 2024 audited...

NAICOM Issues Guidelines for Insurtech Operations Effective Aug 1

The National Insurance Commission (NAICOM) has officially issued operational...

Leadway Assurance: Official Insurance Partner of Lagos International Trade Fair 2025

L–R: Juliet Okon, Head, Alternative Channel and High Net-worth...

NNPCL: Port Harcourt Refinery Not for Sale

Group CEO, NNPC Limited, Engr. Bashir Bayo Ojulari addressing...

Topics

Organic Solutions Trains 4,000 Skin-Care Givers on Formulation, Business Growth

R-L: Mr. Agudiegwu (seated), Chairman and Mrs. Gloria Agudiegwu...

FG Committed to Passage of Petroleum Industry Bill, says Osinbajo

The Vice President, Prof. Yemi Osinbajo says the present...

PenCom Holds Retreat to Review Pension Reform Act 2014

The National Pension Commission (PenCom) organised a retreat on...

Five Trends to Shape Nigerian ICT Space in 2020

Isa Pantami Minister of Communications & Digital Economy In a new...

NDDC Audit Report: MIIVOC Invokes FOI Act on Malami

Following last week’s submission of the Forensic Audit Report...

Zenith Leads with 41% in Banks’ N217m Print Advert Spend in Feb 2022

P+ Measurement Services, a PR Measurement and Evaluation Agency...

Ericsson to Acquire IT Services Capabilities from France’s Devoteam

­Ericsson has announced that it is buying the Devoteam...

Global Semiconductor Market Slumps in 2015

Global semiconductor revenues fell by 2 percent in 2015....
spot_img

Related Articles

Popular Categories

spot_imgspot_img