Specta Business Loan by Sterling Bank – review 2026
Pros
- No Sterling Bank account required: accessible to businesses with accounts elsewhere
- Fully digital application process with 24-hour disbursement
- Business loans for working capital, equipment and trade financing
- Regulated by the Central Bank of Nigeria through Sterling Bank
- Transparent fee structure disclosed upfront before acceptance
Cons
- Annual interest rates higher than traditional bank business loan products
- Maximum loan amount of ₦5,000,000 may be insufficient for larger SME needs
- Short maximum tenure of 12 months not suitable for capital investment loans
- Business must demonstrate verifiable revenue through bank statements
- Penalty fees and charges apply for late or missed repayments
Requirements
- Registered business (CAC registration certificate)
- Business bank account statement for the last 6 months
- Valid ID of the business owner
- BVN
- Evidence of business trading (invoices, contracts or revenue records)
Provider contacts
- Regulator
- Central Bank of Nigeria (CBN)
Information in this review is based on publicly available sources and is for informational purposes only. Finatino.com is not a financial product broker. Before signing any contract, we recommend reading the provider's terms and conditions.