GTBank Launches Fashion Industry Credit to Promote SMEs

This loan is available for small business owners in the fashion industry.

If you run a business in the fashion industry and need a loan to boost your business, this is for you.

Foremost African financial institution, Guaranty Trust Bank Plc, has launched a new retail single credit loan, called “Fashion Industry Credit,” a scheme specially tailored for Small and Medium Enterprises in the African Fashion Industry.

Over the years, GTBank has been at the forefront of establishing a platform that places African fashion on the global stage whilst helping small businesses in the local fashion industry thrive.  The Fashion Industry Credit is in line with the Bank’s continued efforts to unlock greater growth opportunities for small businesses in the fashion industry to operate on a larger scale.

Loan Features 

    • Up to N5 Million
    • Single digit (9% per annum) interest rate
    • No fees. No collateral.
    • Flexible repayment plan spread over 360 days
    • Access up to 50% of the average annual turnover

With a competitive interest rate of 9 per cent as opposed to 23 per cent charged for regular loans, the credit facility will not only help SMEs scale up but also give them access to less burdensome debt and thus, a greater chance of expanding into global markets. To ensure that the loan is flexible and accessible to all, the bank has also specially tailored the Fashion Credit to be collateral-free whilst ensuring that the application process for the credit facility is seamless.

For more information on Fashion Industry credit and your eligibility, click HERE.