Transcript Title
CONSUMER BANKING PRODUCTS FOR SMEs
www.firstbanknigeria.com
Outline
• LPO Finance • Contract Financing Facility • Questions & Answers
LPO Finance
Product Definition Designed to provide short-term finance to small and medium sized businesses (with annual turnover of N500m and below) for the execution of SUPPLY ORDERS from FBN-approved Principals Features
Loan amount is a minimum of N100,000 and a maximum of N50m
A maximum tenor of 90 days with the option of 60 days renewal after the expiry of the facility
Loan amount does not exceed 70% of cost of execution of the supply
LPO Finance
Benefits
To enable SMEs source and supply required products to their Principals Competitive rates Flexible collateral structure Single exposure limit of N50m It increases growth in the Retail Sector of the economy The short-term cycle of the transaction gives customer multiple streams of income
Contract Finance Facility
Product Definition Designed to provide short-term finance to small and medium sized businesses (with annual turnover of N500m and below) for the execution of CONTRACTS from FBN-approved Principals Features
Loan amount is a minimum of N100,000 and a maximum of N50m A maximum tenor of 180 days with the option of 60 days renewal after the expiry of the facility Loan amount does not exceed 70% of cost of executing the contract Approved facility is disbursed in tranches according to achieved milestone Customer has maintained account with a reputable bank for minimum of 24 months, 6 of which must be with FirstBank Minimum account turnover with any bank is N5m over the last period of 6 months
Contract Finance Facility
Benefits
Competitive rates Enables contracts to be executed within the specified time-frame Flexible collateral structure The single exposure limit is N50m It increases growth in the Retail Sector of the economy
Q & A
Thank you
www.firstbanknigeria.com
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