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.
Tangible Collateral which must be at least 150% of the loan value for loan value above =N=500,000