This solution supports the Bank’s strategy in offering simplified loans to businesses such as Hotels, Lounges, Bars, Restaurants/Eateries, Salon, Spa etc.
- Facility Limit: Maximum amount of 35% of customer’s average monthly credit turnover in the past 3 months subject to a cap of N20million
- Facility type: Overdraft
- Maximum tenor: 365 days
- Collateral:
- All Asset Debenture over the assets of the company with a coverage of at least 150% of the facility amount.
- 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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