The FBNBank LPO Financing Facility product is designed to give your business the financial assistance it requires to make the next big move
Features
- Maximum tenor of 120 days with the option of 60 days renewal after the expiry of the facility
- Up to 70% of the supply order given as loan
- Irrevocable Tripartite domiciliation of agreement in respect of contract proceeds executed by beneficiary company, FBNBank and the employer company
- The employing company must be on the FBNBank list of Principals
Benefits
- Opportunity for your company to accept new business from clients even when you do not have the operating capital on hand to fund the job
- Gives access to working capital
- Supports business growth and expansion
- Gives companies an easy way to cover their operational costs
Required Documentation
- Application letter.
- Duly completed loan application form
- Certificate of registration of business entity.
- Original Purchase Order contract documents duly executed by respective parties from principal
- Other Banks’ statement of account of 12 months preceding application
Who Can Apply?
- Registered businesses that need funding to execute job orders
To apply for the Local Purchase Order (LPO) Financing Facility,
- Visit the nearest FBNBank branch.
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