By Teboho Serutla
Standard Lesotho Bank has introduced instant loans for small and medium enterprises (SMMEs). This facility – a digital lending offering – allows business customers, especially SMMEs, to access quick and hassle-free instant loans with no queues and very minimal paperwork.
To qualify for a loan, business customers need to demonstrate clean account conduct, clean credit record with up to date tax clearance and valid traders’ license.
Qualifying businesses will receive SMS notification from the bank, then call a direct toll line to access the funds instantly, upon confirmation of a one-time pin (OTP).
This instant loans offer is a response to the longstanding challenge of access to finance and the time it takes for manual loan applications to be approved, especially for small and medium enterprises.
“As a leading bank, we are proud that we now 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,” the head of personal and business banking of Standard Lesotho Bank, Selloane Tsike states.
She adds that this will not only help the individual businesses, but the economy of Lesotho as a whole.
Digital loans offered by Standard Lesotho Bank are the first of their kind in Lesotho and, according to the bank, are a testament to its strategy towards digitization and customer centricity, delivering fit-for-purpose solutions that meet and exceed clients’ expectations.
