This product is designed to support SMEs to part- finance asset replacement/purchase that has a minimum life span of 4 years. Such assets would include New Vehicles, New Generators, Working Assets such as Freezers, Ovens, etc. (Asset to be financed must not be specialized)
- Facility Limit: Up to 50% of annual turnover in the immediate 12 months, subject to an upper of N50 million
- Facility type: Term Loan
- Maximum tenor: 36 months
- Equity Contribution: Minimum of 30% of the asset being financed.
- Collateral:
- Charge on the asset being financed.
- Personal Guarantee of the Managing Director of the Company supported with a notarized statement of personal financial net-worth (Applicable only for limited liability companies)
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