Recognising the new need to minimise physical contact, South Africa’s Standard Bank has streamlined its online business loan application process so that it takes less than 3 minutes.
Of course, Covid-19 restrictions are not the only reason why this loan provider has upped its game and turned to technology to improve its services. According to News24, many businesses are flocking to online lenders as a means to speed up their loan approvals. This after a trend was detected where business owners were willing to accept exorbitant interest rates if they had quick access to funds.
In an effort to make life easier, Standard Bank has made it possible for companies to apply for a Standard Bank Business Loan online within minutes. At the same time, the lender has strived to keep interest as affordable as possible to ensure that the swift service does not take unnecessary advantage of applicants.
Once your application has been approved, you will have access to your funds within 24-hours.
Standard Bank’s Head of Business Clients South Africa, Simone Cooper, had the following to add:
“Our goal is to facilitate the growth of businesses during these trying times. By providing access to business loans via our self-service channels, we’re enabling businesses to make quicker decisions with available funds to make it happen.”
It goes without saying that if you’re an existing Standard Bank customer, then applying for a loan from the banking institution is going to be more streamlined and optimally faster. Whether you are applying for a Business Revolving Loan or an Overdraft, all you need to do is:
- Log in to your Internet Banking profile
- Click on the button titled “Borrow” found on the top navigation bar
- Wait for a loans banner to pop up and then select the option “I’m interested”
- Follow the steps and enter your details
- If you qualify, you’ll receive an agreement which can be signed digitally.
Did we mention that there’s also an app?
If you’re in need of a Business Overdraft, simply open the Standard Bank. You will be able to apply for this service as well as request increases as the need for more funds arises.
The good news is that if you’re not a Standard Bank customer, your application for a fast loan will still be considered. Simply visit the bank’s business loan’s page and complete the “call me back” form. One of their consultants will contact you shortly thereafter.
As with both business and personal loans, terms and conditions do apply. Make sure to read the fine print before signing on the dotted line!
Click here for personal loan options.