ABOUT LOCAL PURCHASE ORDER
This product or loan is geared toward those who have a contract/project to execute but could not raise the money that will be involved to finish the job all alone. Bank will study the nature of job/contract and carry out necessary assessment by sighting the physical place of job or evidences and place of award.
This has a 24% p.A in 6 months.
REQUIREMENTS
- The beneficiary must be a nigerian citizen/enterprise with some form of identification (kyc)
- Bulk payment once
- Repayment can also be segmented on agreement but not exceeding maturity
- Principal based on project amount but within the single obligor limit
- Careful study of the project to be executed
- Level of contribution already commited to the project to be financed will be assessed to aid bank’s decision