Loan Products

Get quick access to our Loan products, which are tailored to meet your needs

Regular Loan

₦70,000 Upward
This is designed for petty traders and micro business owners. This loan operates on a group(Union) methodology. Union are self-selected like minded individual to form a group and the loan is granted to individuals in the union but the group takes liabilities

Features

  • Methodology: Group
  • Nature: Micro and small in nature, (You Can Access Up To 70,000 First Stage)
  • Grace Period: 2 Weeks
  • Repayment Frequency: Weekly
  • Duration: 6 Months(24 weeks)

Basic Selection Criteria

  • Micro/Small business owners(women, more of advantage)
  • Willing to join a group
  • Willing to attend group meetings weekly
  • Willing to use loan for income generating activities
  • Must be a registered member/s of SLO

Benefits to Clients

  • Low interest rate
  • No Collateral
  • Expert financial advice available
  • Flexibility of repayments
  • Transparency, no hidden charges
Contact A Branch Now

Special Loan

₦90,000 Upward
This is specially designed to meet the capital needs of small and medium scale entrepreneurs who require more funds for expansion

Features

  • Methodology: Group
  • Nature: Micro and small in nature, (You Can Access Up To 90,000 First Stage)
  • Grace Period: 1 Month
  • Repayment Frequency: Monthly
  • Duration: 6 Months

Basic Selection Criteria

  • Small/Medium business owners(women, more of advantage)
  • Willing to join a group
  • Willing to attend group meetings weekly
  • Willing to use loan for business expansion
  • Must have benefited regular loan at least twice
  • Must be a registered member/s of SLO

Benefits to Clients

  • Low interest rate
  • No Collateral
  • Expert financial advice available
  • Flexibility of repayments
  • Transparency, no hidden charges
Contact A Branch Now

Asset Loan

Based On Asset Value
Asset loan is specifically design for members who need loans for income generating property purchase

Features

  • Methodology: Individual lending but group liability
  • Nature: Micro and small in nature, (Based On Asset Value)
  • Grace Period: 1 Month
  • Repayment Frequency: Monthly
  • Duration: 8 Months

Basic Selection Criteria

  • Small/Medium business owners - women, more of advantage
  • Willing to join a group
  • Willing to attend group meetings weekly
  • Willing to use loan for business expansion
  • Must have benefited regular loan at least twice
  • Asset to be purchase must be related to the business line of beneficiary
  • Must be a registered member/s of SLO

Benefits to Clients

  • Low interest rate
  • No Collateral
  • Expert financial advice available
  • Flexibility of repayments
  • Transparency, no hidden charges
Contact A Branch Now

Agricultural Loan

₦50,000 - ₦500,000
The agricultural sector is noted as the highest employer of labor in West Africa. Yet, it is not much more than peasant farming which could barely satisfy the needs of families due lack of funds. These reasons and more have propelled Standard Life Organization to start agricultural credit initiatives

Features

  • Methodology: Individual, group and corporate
  • Facility Range: 50,000 Minimum, 500,000 Maximum
  • Grace Period: 30 - 60 Days
  • Repayment Frequency: Monthly
  • Duration: 1-12 Months

Basic Selection Criteria

  • Small/Medium Farm owners - women, more of advantage
  • Willing to join a group
  • Willing to use loan for farming business/expansion
  • Prospective clients must be practicing farmers with verifiable evidence of existing farm investments
  • Must be a registered member/s of SLO

Benefits to Clients

  • Low interest rate
  • No Collateral
  • Expert financial advice available
  • Flexibility of repayments
  • Transparency, no hidden charges
Contact A Branch Now

Midterm Loan

Half Of Regular Loan At Any Given Stage
This loan is design to meet the capital need of an already existing client whose curent loan has droped due to the weekly repayments and need a top up as a back.

Features

  • Methodology: Group
  • Facility Range: Half of curent regular running loan
  • Grace Period:7 days
  • Repayment Frequency: Weekly
  • Duration: 6 Monthd (24 weeks)

Basic Selection Criteria

  • Micro/Small business owners(women, more of advantage)
  • Must have good repayment history
  • Willing to attend group meetings weekly
  • Willing to use loan for income generating activities

Benefits to Clients

  • Low interest rate
  • No Collateral
  • Expert financial advice available
  • Flexibility of repayments
  • Transparency, no hidden charges
Contact A Branch Now

Medium Enterprise Development Loan (MEDL)

₦150,000 - ₦500,000
This loan is design to meet the capital needs of Medium Scale Enterpreneur who require more fund for business expansion and sustainability.

Features

  • Methodology: Individual
  • Facility Range: 150,000 Minimum, 500,000 Maximum
  • Grace Period: 30 days
  • Repayment Frequency: Monthly
  • Duration: 6 Months

Basic Selection Criteria

  • Small/Medium Business owners
  • Willing to use loan for Income Generating Activities (IGM)/Business Expansion
  • Must be a registered member of SLO

Benefits to Clients

  • Low interest rate
  • No Collateral
  • Expert financial advice available
  • Flexibility of repayments
  • Transparency, no hidden charges
Contact A Branch Now