The Small and Medium Scale Enterprise (SME) sector is vital to the development of every economy and we are fully convinced that Nigerian SMEs are the core conduit for sustainable job creation, rapid industrialization and poverty alleviation. We are therefore keen on providing our SME customers with an array of products and services to promote business growth and ensure sustainable wealth creation.

At Guaranty Trust Bank, we remain dedicated to our cause as a customer centric bank and constantly seek ways to add measurable value to businesses by offering loans and advances to fit your various financial needs:

  • SME Term Loan (Build or Buy): This is a medium to long term facility aimed at assisting established and well-structured schools in the expansion of their landed properties to meet obvious or anticipated business demand. The tenor spans from 3 to 10 years, giving schools funds up to 400million.
  • Invoice Discount Facility: Is a short term borrowing facility which provides a quick cash flow solution to your business needs. Your business can draw money against invoices (receivables) issued before your clients pay for products supplied or services rendered. Up to 70% of the value of confirmed invoices can be advanced for a set period of 30-90 days prior to when payment is made.
  • Trading Overseas: We provide a full range of services including bills for collection and letter of credit for international trade settlement.

The information we need
To open a GT SME Banking account, you will need to provide us with the following information listed below.  For Limited Companies and partnerships, we will need to identify at least two principals to the account.

1.    Proof of identity
we need to see ONE of the following:

  • Valid international passport
  • Driver’s license
  • National identity card

2.    Proof of address
we need to see ONE of the following:

  • Utility bill (electricity, phone bill, waste bill, water) from the last 3 months

3.    Personal details of signatory/directors

  • Name address and contact telephone number

4.    General Business details
Business name, address and contact numbers, principal trading activity and date the business commenced.
For Limited Companies and limited liability partnerships, we will need to see proof of business registration as listed below :

  • Memo and Article of Association
  • Copy of Certification of Incorporation
  • Copy of form C07
  • Printed copy of Tax Identification Number (TIN)
  • Company seal
  • 1 passport photo of each signatory to the account
  • Board resolution (signed by 2 directors/1 director and Company Secretary)