The FBNBank Stock Replacement Facility is designed to provide a structured finance to traders and distributors of Fast Moving Consumer Goods (FMCG) Principals to meet working capital needs
Features
- Customer is required to make either a 20% or 30% equity contribution
- Submit invoices for goods to be purchased
- Maximum tenor of 18 months.
- Payment will be made directly to the supplier
- Tenor of 12 months
Benefits
- Improves your cash flow by bridging the gap between the time when you must pay for imported goods and the time when you receive payment for selling them
- Enables you to pay suppliers promptly, building your business credit rating and reputation
Accompanying Documents
- Application letter
- Duly completed application form
- Certificate of registration of business entity
- Invoices of goods to be purchased
- Audited financials
- Company’s financials
- Other Banks’ statement of account of 12 months preceding application
To apply for the Stock Replacement Facility
- Visit the nearest FBNBank branch.
You may also like…
Personal Loans: Whether you are looking to buy a brand new car or working towards making other dreams a reality, our range of flexible loans help you bring your plans to life.
Savings Accounts: Achieve your savings goals and enjoy competitive interest rates when you save your money with us. Save to attain your financial freedom.
Current Account: Would you like an account that allows you perform 3rd party or business transactions with ease? Our current account is just what you need.