Polaris Bank is impacting Nigeria’s education sector with a significant funding boost through its bundled loan solution called ‘Polaris Education Loan’ as it sets aside a dedicated Credit Line to Support private school owners.
The Polaris Education Loan offers both new and existing private primary, secondary, and tertiary institutions customers of the bank, access to loans of up to N100 million to meet their various funding needs.
This solution forms part of the lender’s effort to support Nigeria’s vital educational sector by ensuring that schools meet their goals and growth aspirations.
Speaking on the Polaris Education Loan, the Group Head, Products and Market Development, Mrs. Adebimpe Ihekuna, disclosed that the credit scheme is the bank’s forward-thinking safeguard to help schools mitigate any shortfall in their finances, especially as schools prepare to resume in the new academic year, starting next month, September.
A statement from the bank explains that the Polaris Education Loan offers the promoters of private schools, credit facility to meet their various administrative needs: payment of salaries, finance rent, purchase of laboratory equipment, School buses, furniture, books for the library, school renovation and expansion. The credit scheme also allows for purchasing essential assets such as school buses and power generating sets, among others. It takes 24hrs to avail customers of the loan by the Bank.
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