LPO Financing

Targeted at SMEs with a registered business name who need financing to take on LPO jobs for verifiable and existing Companies.

Eligibility Criteria

1. Salary:
   1. Applicant must demonstrate good understanding of the business.
   2. The applicant must also demonstrate previous experience doing the same job.
2. Turnover: The business must have a minimum turnover of N5 – N50 million monthly.
3. Operations: The business should have been operational for a minimum of one (1) year.
4. CAC: The business must be registered with the Corporate Affairs Commission (business name or Limited), submit CAC 02 & 07 form.
5. Bank Statement: The applicant must provide an active bank statement for a minimum period of six (6) months.
6. Tax Identification: The business must have a Tax Identification Number (TIN).
   1. KYC: The business must have a verifiable address of operations and residential address (For the business promoter). Provision of National ID, Utility bill of residential address (For the business promoter).
   2. Credit Checks: The business must submit credit check as obtained from the CRC credit bureau. It is expected that business must have a clean credit record and account behaviour.
7. BVN: The business must have a valid Bank Verification Number (BVN)

Conditions Precedent to Draw-Down: Any of the following is required and
expected to be met before money is disbursed to Obligor:

1. All requirements submitted by borrower & signed agreement
2. Certificate of job completion & previous copies of LPOs
3. Softcopy of LPO
4. Evidence of LPO authorisation
5. Domiciliation with Issuer or
6. A standing order and cheque
7. Contact details of procurement officer
8. Official email address of procurement officer