LPO Financing
A loan product designed for contractors and vendors of reputable organizations
to enable them to execute work and local purchase orders from their respective employers.
Loan Amount:
Up to 70% of the LPO value.
Loan term:
Maximum 120 days.
Criteria:
- Qualified and more than one year experience
- Has capacity to deliver the contract
- Past track record of the supplier or vendor.
- The LPO should not be more than 30 days from the date of issue.
Fees:
Processing fee at 3% of the loan amount.
Interest Rate:
1.17% per month.
Security:
Cash cover, Land & buildings, and/or Motor vehicles; are acceptable collateral.
