Loan Products

Nurturing businesses for growth means bridging identified gaps in your client’s business. One of those gaps is funding gap and as a Bank, we have the following loan solutions for our SME customers;

SBG Fast-track Loans

Skye School Advantage

Maximum loan amount is N10 million per obligor at every given time

Loan Type

Pricing

Purpose

Asset Financing

SME friendly

Equity Contribution: 20%

Tenor: Max. 36 months

To purchase school buses or generating set not less than 15KVA

Short Term Loan

SME friendly

Tenor: Max. 12 months

Max. loan amount must not be tied to more than 20% of annual turnover subject to maximum of N10 million

To purchase laboratory equipment, furniture, books for library, pay rent

Advance

SME friendly

Tenor: Max. 90 days with option of 45 days or 30 days to fee collection

Max. loan amount must not be tied to more than 50% of the school collections for a term, subject to maximum of N10 million

To provide working capital to schools for payment of salaries, purchase of stationery, repairs, etc

Retail Loans for Parents and Teachers

Skye Bank also offers a range of retail loans to address the funding needs of parents to pay school fees and also for teachers to bridge working capital against their salaries. The following are the retail loans and their features:

Personal Term Loan

This can be used by parents, who work in well-structured organizations, to pay school fees.

Features:

  • Maximum loan amount of N5million.
  • Maximum facility tenor of 36months.
  • Pricing is highly competitive.
  • Repayment shall be from salary domiciliation.

Salary Advance

This can be used by teachers to bridge personal funding gap against next pay day.

Features:

  • Maximum loan amount of 70% of monthly net income.
  • Maximum facility tenor of 30 days.
  • Pricing is highly competitive.
  • Repayment shall be from salary domiciliation.

Salary Overdraft

This can be used by teachers to augment personal cash flow as the need arises.

Features:

  • Maximum loan amount of 100% of monthly net income.
  • Maximum facility tenor of 12 months with a 30-day clean up cycle per tranche.
  • Pricing is highly competitive.
  • Repayment shall be from salary domiciliation.

AUTO LOAN FOR BUSINESS OWNERS

  • Maximum loan amount of N10 million
  • Maximum tenor of 36 months
  • Minimum equity contribution of 30%
  • Pricing is SME friendly.
  • Repayment shall be from salary domiciliation.
  • Equal and consecutive monthly instalment 
  • Obligor’s business must be domiciled with the Bank

 

 

How may we help you?

Ask a Question

0700 SKYEBANK
0700 75932265
0806 988 0000
01 4482 100
01 2705 850
Email: yescenter@skyebankng.com

 

 

 

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