AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
Specta's decisions rest mainly on your bank statements and credit record: Sterling says Specta Xtreme retrieves statements electronically and Specta Basic requires salary paid into Sterling with your employer onboarded. A decline or low limit usually means your statements show irregular or low income, existing repayments already take much of it, your bureau record has an overdue loan, or, for Basic, your employer is not set up. Fix the cause, let a few months of clean statements build, then reapply.
What Specta looks at
Sterling's own loan page gives the clearest guide to how Specta decides. As at October 2026 it says:
- Specta Xtreme is for self-employed and non-salaried people, and salary earners banking elsewhere; statements are retrieved via MyBankStatement; limits typically run from ₦50,000 to ₦2m over 12 months.
- Specta Basic is for salary earners whose salary is paid into Sterling, where their community (employer) has been onboarded; the profile and limit are set up before you can log in and see them; limits typically run from ₦50,000 to ₦5m.
- No collateral is required for Specta Xtreme.
With no collateral, the lender's protection is your income and track record. So the inputs that matter are the regularity and size of income in your statements, what already goes out to other lenders, and your credit bureau history.
Reasons for a decline
| Reason | How it shows | What to change |
|---|---|---|
| Statement from the wrong account | Little income visible | Use the account your salary or sales go into |
| Irregular income | Large gaps between credits, or income in cash only | Route income into one account for several months |
| High existing repayments | Regular debits to other lenders or apps | Clear small loans first |
| Overdue loan on bureau record | Declines from other lenders too | Settle and ask the lender to update the bureau |
| Identity mismatch | Application stops at BVN or statement stage | Correct details so they match your BVN |
| Specta Basic: employer not onboarded | No limit appears after login | Ask HR, then use Sterling's Indicate Interest form |
Why the limit is low
A low offer usually means the scoring is comfortable lending to you, but only at a repayment it judges affordable. Lenders cap the monthly repayment at a share of your income. Here is an example of how that caps the loan, using Sterling's listed 40% a year rate and equal monthly repayments over 12 months; Specta's actual affordability rule is not published.
- Net monthly income in statements
- ₦200,000
- Repayment cap at one third (example)
- ₦200,000 ÷ 3 = about ₦66,667
- Loan that repayment supports at 40% a year over 12 months
- about ₦650,600
- If ₦30,000 already goes to another loan
- Cap left is about ₦36,667, supporting roughly half the amount
This is why clearing another debt, or showing higher regular income, can lift the next offer more than anything else.
If most of your income is cash
Traders, artisans and many small business owners are paid largely in cash, which is invisible to a statement-based assessment. Specta Xtreme is aimed at self-employed people, but it can only lend against income it can see. If customers pay you in cash, the most effective change is to bank it regularly, ideally daily or weekly, into one account, and to ask customers who can to pay by transfer. Over three to six months this turns hidden income into a visible pattern.
Be careful not to inflate the picture by moving money between your own accounts. Transfers in from yourself are easy to spot and do not count as income; they can make a statement look less reliable, not more.
How long changes take to show
Most statement-based lenders read several months of history, so a change made this week has little effect on an application next week. A cleared loan shows on your bureau record once the lender updates it, which can take a few weeks. Plan to reapply after the account has had time to reflect the new pattern, and keep a note of what you changed so you can tell whether it worked.
Steps before reapplying
- Check your credit report and settle anything overdue. See how the credit bureaus work.
- Pick the account that receives your income and keep income flowing into it for at least three months.
- Cut regular debits to other lenders where you can.
- Make sure your names and date of birth match your BVN everywhere.
- For Specta Basic, confirm with HR that your employer is onboarded.
- Reapply through the Specta app or specta.sterling.ng and approve the statement request from the right bank account.
Should you accept a low limit?
If it covers the essential part of your need, accepting and repaying on time builds a record with Sterling that can support a larger offer later. If it does not, decline rather than topping up from a loan app; two sets of repayments make the next assessment harder. For the full application steps see how to apply for a Specta loan, and for current rates the Specta rate and limit guide.
Where Pryme fits
For merchant spending, Pryme's Loans on Spaces uses a separate assessment by Solid Allianze Microfinance Bank, based on how your Pryme account is run. Any limit comes with the full agreement for you to accept or decline, and it is spent only with Spaces merchants.
Questions people ask
Why is my Specta loan limit so low?
Your offer is capped by the repayment Specta judges affordable from the income in your statements, after existing debts. Higher, regular income and fewer other repayments raise it.
Why can I not see my Specta Basic limit?
Sterling says the profile and limit must be set up before you can log in and see it, and your employer must be onboarded. Ask HR and use Sterling's Indicate Interest form.
Can I reapply on Specta after a decline?
Yes, but reapplying with the same statements usually gives the same result. Change what caused the decline first.
Does Specta check credit bureau?
Lenders in Nigeria check credit bureau records, and an overdue loan elsewhere is a common reason for a decline.
Sources
- Sterling Bank: Loans (Specta Basic, Specta Xtreme, payroll and SME lending) · accessed Oct 2026
- Sterling Bank: Specta (specta.sterling.ng) · accessed Oct 2026
- FCCPC: Federal Competition and Consumer Protection Commission (digital lending register and complaints) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.