PTMFB - LOAN FACILITY PRODUCTS
Micro Loan (Groups & Individual)
This is a product designed for entrepreneurs with existing businesses that increase in working capital i.e. scale of business operations. It is strictly meant for income generating activities e.g. buying of goods for resale. Members of Associations and Groups are also eligible.
PT Assets Acquisition Loan
This product is for direct purchase of income generating assets for small and medium scale enterprises. The objective is to enable entrepreneurs acquire tangible business assets that will boost their income generating capacity, which could be difficult to acquire on their own. Such asset(s) could relate directly or indirectly to their current line of business.
Local Purchase Order (LPO)
This product is a short term facility targeted at enabling micro businesses / SMEs to finance major jobs supplies to credible third parties, as well as distributorship/ sub-distributorship.
Advance Payment Guarantee (APG)
This is a facility available to contractors that have relationships with pre-selected organizations and companies to enable them fulfill their contract obligations. The purpose is to enable these organizations/companies effect part-payment to our clients in advance for the commencement and execution of the contracts.
Save ‘N’ Borrow
This is a product designed for entrepreneurs / SMEs with existing businesses requiring increase in working capital i.e. scale up their business operations. It is strictly meant for income generating activities e.g. buying of goods for resale.
Quick Cash (Emergency) Loan
This product is available to existing customers with credible credit history. It could also be structured as a top up loan to our esteemed customer.
This is a hybrid product designed to address the working capital needs of Small and Medium scale Enterprises (SMEs). It serves both short and medium term financial needs. SME Loan has a tenor of six months to one year. This type of loan will help these businesses bridge financial gaps and support acquisition of additional assets.
Personal Trust Salary Advance (Consumer Loan)
The facility is targeted at employees of structured organizations (including salary earners in government agencies like LASAA, FIRS etc) with regular salaries and allowances. It is designed to provide a bridging gap to meet short term financial needs before the next salary payment. The purpose of such needs include;
- Acquisition of household items
- Other urgent legitimate needs
It is therefore aimed at working class professionals as an advance against their monthly salary.
This product involves the provision of income generating assets for small business owners on leasehold bases. The objective is to enable entrepreneurs acquire tangible equipment needed to grow their businesses with little or no pressure on their working capital.
Small businesses faced with the option of using their own resources to purchase equipment realize they can improve their cash flow if they lease the equipment instead. Many small businesses are known to fail not because of unprofitability, but rather due to cash flow constraints. This product is therefore designed to remove such constraints on their cash flows.
In addition to KYC requirements, such equipment must relate directly to their current line of business. This could be a single or a combination of business items e.g. business furniture and equipment combined. The obligor must provide evidence of ownership of shop or office. Other leasable items include motorized equipment with the exception of commercial motor bikes (Okada). Unlike the PT Assets Acquisition, this product requires 15% down payment of the principal plus interest amount.