Features

• Maximum tenor of 120 days with the option of 60 days renewal after the expiry of the facility
• Up to 70% of the supply order given as loan
• Irrevocable Tripartite domiciliation of agreement in respect of contract proceeds executed by beneficiary company, FirstBank and the employer company
• The employing company must be on the FirstBank list of Principals

Benefits

• Opportunity for your company to accept new business from clients even when you do not have the operating capital on hand to fund the job
• Gives access to working capital
• Supports business growth and expansion
• Gives companies an easy way to cover their operational costs

Required Documentation

• Application letter.
• Duly completed loan application form
• Certificate of registration of business entity.
• Original Purchase Order contract documents duly executed by respective parties from principal
• Other Banks’ statement of account of 12 months preceding application

Who Can Apply?

• Registered businesses that need funding to execute job orders

To apply for the Local Purchase Order (LPO) Financing Facility,

• Visit the nearest FirstBank branch.