New Telegraph

Lender boosts agric sector with low-interest loans

Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC, has reaffirmed that it remains committed to boosting the growth of Nigeria’s agriculture sector by supporting farmers and other players in the agricultural value chain.

 

In a statement, the lender noted that it offers various low-interest credit facilities across the agricultural sector that will help clients to cushion the impacts of Covid-19.

 

According to the Head, Agribusiness, Stanbic IBTC Bank PLC, Wole Oshin, the lender’s agribusiness financial solution is geared towards ensuring that players in the agriculture space are not hindered by lack of finance.

 

He said: “The bank’s suite of agribusiness solutions minimises risks, ensures maximum control and optimises profits associated with international trade by making transactions smoother, simpler and safer for all parties involved.

 

Some  benefits of the Stanbic IBTC Agribusiness Finance include availability of gap-funding for unforeseen financial needs, maintenance of cash flow and flexibility of repayment terms based on the type of funding.

 

This facility is also versatile and can be utilised for funding resources, vehicles and farming equipment.”

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