Cascador and Sterling Bank launch $200M Credit Fund for Nigerian startups

Cascador , a Nigeria-focused platform for growth-stage founders, and Sterling Bank have partnered to launch a $200 million SME Credit Backstop fund designed to unlock up to $1 billion in commercial lending for Nigerian startups and small businesses. Rather than issuing loans directly, the fund functions as a risk-sharing mechanism. By agreeing to cover a portion of potential losses if a borrower defaults, the backstop reduces the risk exposure for lenders, encouraging them to extend credit to st