Purchase Order Discounting
With the Purchase Order Discounting service, your business can fulfil orders and pay suppliers. Get working capital to keep your business moving forward.
120 days
Maximum term
Up to 64%
Percentage of the contract sum
Some of the benefits
Good terms
Up to 120 days to make repayments
Support
24-hour business banking support through our customer care channels
Access to funds
Get working capital to complete your contracts
Fast and simple
Apply, get approved and get the funds you need
What you get
- Working capital to execute contracts.
- No need to provide tangible collateral.
- Make repayment of the loan when your contract is paid
- Financing of up to 64% of the value of the purchase order.
- Domiciliation of proceeds with the bank.
- Loan tenure of a maximum of 120 days
What you need
- Formal application letter
- Board resolution approving the request (if you are limited liability company)
- Duly executed irrevocable domiciliation agreement for the full LPO value of the contract into a collections account
- Copy of supply order/contract document duly verified by the collections monitoring unit (CMU)
- Copy of goods/product invoice from supplier
- 6 months’ bank statements (for new-to-bank customers)
- Satisfactory credit bureau report
- Duly Executed Statement of Personal Guarantee of Company Owner(s)
• Applicant must be a Business Banking customer with a Business Banking account
Download application NOTE: Link must be added here
View T&C NOTE: Link must be added here
-
What you get
-
What you need
- Working capital to execute contracts.
- No need to provide tangible collateral.
- Make repayment of the loan when your contract is paid
- Financing of up to 64% of the value of the purchase order.
- Domiciliation of proceeds with the bank.
- Loan tenure of a maximum of 120 days
- Formal application letter
- Board resolution approving the request (if you are limited liability company)
- Duly executed irrevocable domiciliation agreement for the full LPO value of the contract into a collections account
- Copy of supply order/contract document duly verified by the collections monitoring unit (CMU)
- Copy of goods/product invoice from supplier
- 6 months’ bank statements (for new-to-bank customers)
- Satisfactory credit bureau report
- Duly Executed Statement of Personal Guarantee of Company Owner(s)
• Applicant must be a Business Banking customer with a Business Banking account
Download application NOTE: Link must be added here
View T&C NOTE: Link must be added here
We also offer
Personal Current Account
Easy and convenient banking with the Personal Current Account. With access to 24/7 online banking platforms
USSD Banking - *909#
Dial *909# on any phone without charges to open a zero account, transfer funds, buy airtime/data and access our services. For instant account blocking, dial *909*1*911#.