The Standard Lesotho Bank has introduced instant loans for Small and Medium Enterprises.

According to the statement released by the bank, this facility is a value-added service that allows business customers, especially small and medium enterprises to access quick and hassle-free instant loans with no queues and very minimal paperwork.

It states that the instant loans offer is a response to the longstanding challenge on access to finance and the time it takes for manual loan applications to be approved, especially for Small and Medium Enterprises.

It further states that the new solution also demonstrates and reaffirms the Bank’s commitment to providing cutting edge solutions for Basotho businesses, so that they have more time to invest in growing their businesses than spending it in the banking halls.

The press release says that the solution also responds to the challenge of many business owners, who are predominantly sole proprietors when requiring lending to finance their working capital needs, where they will now be able to access instant loans without collateral and financial statements.

The Head of Personal and Business Banking of Standard Lesotho Bank, Ms. Selloane Tsike says this innovative solution is proof that the Bank is intentional about breaking the barriers to finance for the business sector.

She said they have a quick and easy solution that provides SMMEs the much-needed loans that will surely help them to serve their clients better, grow and be more profitable, adding that this not only helps their individual businesses, but the economy of Lesotho as a whole.

Digital loans offered by Standard Lesotho Bank are a testament to the Bank’s strategy towards digitization and customer centricity, delivering fit for purpose solutions that meet and exceed clients’ expectations.

Source: LENA 06/05/2021

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