(For purchase of household items, vehicles, office equipment, laptop, phones e.t.c)
- Applicant to submit application
- Proforma invoice of equipment/asset to be purchased.
- 20% equity contribution
- Payment directly to vendor and purchase in the name of the bank/applicant and original document will be in possession of the bank until after loan is fully paid off.
- Two guarantors who are salary earners. Guarantors to submit 3 months pay slip, copy of official ID card, undated signed cheque leaflets, I passport photograph, salary account bank statement and fill the guarantors form to be provided by the bank.
- Comprehensive Insurance cover for equipment.
- 6 months maximum repayment period.
- Business profile
- Tangible Collateral which must be at least 150% of the loan value for loan value above =N=500,000
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