Temporary Overdraft

Temporary Overdraft

This is a 30-day revolving loan facility targeted at SME businesses with very high turnover, and are capable of paying down both principal and interest in 30 days.

Features

» Loan facility between N500,000 – N5,000,000.
» Upfront fees of 5%.
» Interest rate of 5%.
» Shares of reputable company’s worth over 400% of the facility.
» Customer and guarantor’s undated cheques.
» C of O of Landed property within Lagos.
» Motor vehicle that are comprehensively insured worth < 200 % of the facility.

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