Confirmation of payment of LPO proceeds by awardee to applicants account with Bowen Microfinance bank.
Direct payment to the vendor by the bank
Confirmation of product quality to tally with specific given standards.
Two guarantors. Guarantors to submit 6 months’ statement of account, Form of identification/ID Card of each guarantor, 3 Undated signed cheque leaflets of each guarantor, 1 passport photograph and a signed personal guarantee form provided by the bank
Undated signed other bank cheques of the applicant.
Tenor of loan is duration of LPO
Quotation for the cost to be incurred to execute the contract
Business and personal profile
30% Equity contribution and Micro insurance cover.
Tangible Collateral which must be at least 150% of the loan value for loan value above =N=500,000