Product Features

Denominated in local or foreign currency

Attracts interest payable either monthly or together with the principal upon settlement of respective contract proceeds

Maximum amount financed is 80% of the cost of executing the LPO

Maximum tenor of 180 days

The facility is self-liquidating

Flexible security requirement depending on integrity of the drawee and tenor.

Benefits

Opportunity to cushion a short-term liquidity crisis

Immediate access to proceeds of sales

Fast and easy processing

Opportunity to expedite a supply contract

Requirements

Completed Loan application form

Financial card

Collateral in the form of fixed assets, stocks under collateral management of combination of both

An approved LPO from reputable company

Letter of undertaking to pay bank directly from drawee/off taker

Letter of assignment of account receivables with recourse.

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