Invoice Discounting
With our Invoice Discounting Facility, your business can draw money against invoices issued for completed contracts before payment is received from your creditors.
Up to 12 months
Repayment term in total
Up to 85% of invoice
Maximum loan amount
Some of our benefits
Easy
Fast and simple application process
Negotiable rates
Our invoice discounting service rates are negotiable
Maximum discount
Up to 80% value of the invoice can be discounted
Capital Efficiency
Maintain cash-flow for your business
What you get
- Immediate cash flow for your business, allowing for continuous growth and cash management
- Up to 80% value of the invoice can be discounted.
- Domiciliation of proceeds with the bank.
- Rates are negotiable.
- No need to provide tangible collateral
what you'll need:
- Formal application letter
- Board Resolution (if a limited liability company)
- Copy of the supply order
- Copy of confirmed invoice from supplier
- Copy of delivery receipt and certificate of contract performance
- 12 months' bank statements (for new to bank customer)
- Duly executed statement of personal guarentee of company owner(s)
How to apply
- Apply for Invoice Discounting at the bank
What it costs:
Rates are negotiable
- You must be a confirmed staff member at your place of employment
- Be a minimum of 21 years and not more than 60 years at the end of the loan tenor (65 years for judges and lecturers)
- Earn a minimum monthly salary of N350,000 and above
- Have a good credit report and no returned cheques in the last 6 months
- Have your salary account (current account) with Stanbic IBTC Bank
- Formal application letter
- Board resolution (if a limited liability company)
- Copy of the supply order/contract document
- Copy of confirmed invoice from supplier
- Copy of acknowledged delivery receipt and certificate of contract performance
-
What you get
-
what you'll need:
-
How to apply
- Immediate cash flow for your business, allowing for continuous growth and cash management
- Up to 80% value of the invoice can be discounted.
- Domiciliation of proceeds with the bank.
- Rates are negotiable.
- No need to provide tangible collateral
- Formal application letter
- Board Resolution (if a limited liability company)
- Copy of the supply order
- Copy of confirmed invoice from supplier
- Copy of delivery receipt and certificate of contract performance
- 12 months' bank statements (for new to bank customer)
- Duly executed statement of personal guarentee of company owner(s)
- Apply for Invoice Discounting at the bank
What it costs:
Rates are negotiable
- You must be a confirmed staff member at your place of employment
- Be a minimum of 21 years and not more than 60 years at the end of the loan tenor (65 years for judges and lecturers)
- Earn a minimum monthly salary of N350,000 and above
- Have a good credit report and no returned cheques in the last 6 months
- Have your salary account (current account) with Stanbic IBTC Bank
- Formal application letter
- Board resolution (if a limited liability company)
- Copy of the supply order/contract document
- Copy of confirmed invoice from supplier
- Copy of acknowledged delivery receipt and certificate of contract performance
We also offer
Offshore Banking
Easy access to your funds across the globe with the flexibility of selecting the currency of your choice.
HYCA Gold
It is a hybrid current account that offers zero current account maintenance fee when customer maintains a minimum balance on the account. The account holder is paid a graduated credit interest for maintaining a minimum balance on the account.