VAF distributor finance

Vehicle and Asset Finance (VAF) products for business facilitates the acquisition of asset for both small and large international corporations and local corporations across various sectors of the economy by providing financial support for the purchase of assets.

VAF also supports the use of Eco-friendly equipment powered by transition fuel and green energy to promote efficiency and safe operation while minimizing environmental impact

Some of the assets we support include but are not limited to:

• Plant and machinery
• Logistics Delivery Vehicles
• Articulated Vehicles
• Passenger Vehicles
• Diesel and Gas Powered Generators
• Diesel and Gas Powered Trucks, Hybrid Trucks
• Printing Machines (all kinds)
• Agricultural Equipment
• Agro-allied Equipment
• Vessels, ROE Machinery

Vehicle and Asset Finance is available to all distributors of prominent manufacturers, listed companies or other Large Local Corporates with existing Corporate and Investment Banking relationships with Stanbic IBTC. The following requirements  applies:

1. Business and Commercial clients type customers in all sectors of the economy and SMEs with a minimum turnover of N120 million annually.
2. The distributor’s business must have existed for at least six (6) months before applying for a Vehicle and Asset Finance Facility.
3. Businesses must have a sound financial track record and a verifiable ability to remain in existence over the repayment period.

Vehicle Finance

• Maximum ten years old by the exit of finance (That is, the facility must be fully paid by the 10th anniversary of the date of manufacture) for used Vehicles Subject to the vehicle not exceeding 70,000Km and minimum warranty of 3 – 6 months on engine and gearbox but limited to Toyota, Mercedes Benz, BMW, Audi, Land Rover, Nissan, Honda, Mitsubishi, Ford, Volkswagen, Chevrolet, Dodge, Infiniti Jeep, Lexus, Acura brands while limiting to N20m cap. And the minimum contribution of 20%  Note:- other brands are eight years

For VAF distributor finance

• Motorcycles  - 12 months
• Tricycles - 24 months
• Passenger and Commercial vehicles 48 months

For Principal without existing Corporate and Investment Banking (CIB)  relationship.

• Passenger and Commercial vehicles 36 months

Used Construction equipment (Yellow metal)

Printing equipment

• 30% equity contribution for existing customers who borrowed from the bank to fund printing equipment purchases and performed satisfactorily.
• 30% equity contribution and additional collateral for customers with tangible collateral.
• 40% equity contribution for customers in the commercial sub-segment.
• 50% equity contribution for customers in the SME 1 segment

For any other Assets finance requests, please send an email to: [email protected]