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

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Loan amount is a minimum of N100,000 and a maximum of N50m

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A maximum tenor of 90 days with the option of 60 days renewal after the expiry of the facility

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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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