Types
- LPO financing
- Overdraft facility
- Term Loan
- Invoice Discounting
Features
- For registered Organizations
- No Equity Contribution required
- Tenor: 30 – 365 days
- Interest rate: 6% flat
- Direct debit mandate
- Upfront fees: 4%
Requirement
- CAC documents
- Board resolution to open account and borrow, signed by two directors and sealed
- Passport photographs of Directors and signatories to the account
- 12 months Bank statements
- Valid means of identifications of Directors and Signatories to the account
- Guarantors
- Evidence of business operation / place of business
- Collateral – 200% of loan amount
- Post- dated Cheques
Guarantors Requirements
- A passport photograph
- Valid means of identification.
- Home utility Bill
- Executed Personal Guarantee form
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