BUSINESS BANKING LOANS
GUARANTEE
These are instruments that entail Sterling Bank substituting its credit worthiness for that of its client and it is done at the request of the bank’s client to the beneficiary. They are undertakings by the Bank, that its customer will carry out the terms of a contract, failing which and upon presentation of predetermined documents, the Bank, to the extent of its undertaking, will compensate the beneficiary. Other forms of guarantees include bid bonds and advance payment guarantees. It is available to customers with contracts from government agencies, corporates etc.
IMPORT FINANCE
The Sterling Bank Import Finance Facility provides financing to importers specifically towards the importation of industrial goods, raw materials and consumer products.
Features/Benefits
INVOICE DISCOUNT
Invoice Discount Facility (IDF): This is a specialized revolving line of credit, extended to fund accounts receivable and accommodate the customer’s continuous need for working capital pending receipt of payments.
Features/Benefits
LETTER OF CREDIT
A letter of credit is an instrument guaranteed by a Bank that enables importers and exporters exchange goods on credit. Sterling Bank, acting at the request and on the instructions of their customer (the applicant) or on its own behalf:
OVERDRAFT
Their overdraft facility provides financing that helps you meet your day to day operational and unplanned expenses. They can help you bridge your working capital gaps.
Features/Benefits
PROJECT FINANCE
At Sterling Bank, they are eager to go into a long term partnership with you and provide the finances you need to bring your project to reality. Take your business proposal to them and they would finance it.
Features/Benefits
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