How to get First city monument bank business loan and requirements

How to get First city monument bank business loan and requirements…Are you searching for how to get business loans in Nigeria without collateral security.If you are running Business there may be a need for you to apply for a business loan to improve your  cash inflow, purchase of equipment,Invoice financing, business expansion, advert and marketing as so many more.

Most financial institutions and private lenders in Nigeria give credit facilities to already established businesses for either for extra capital—whether to boost existing cash flow,or to bring on new employees.

You may want Financial inclusion that meets your needs – transactions, payments, savings, credit and insurance – delivered in a responsible and sustainable way.

For the purpose of this Article, we shall discuss first city monument bank  business loans  and requirements to apply without collateral. You can get up to 5 billion Naira loan for your business from FCMB …Let’s take a look at various business loan packages offered by First City Monument bank.

1. SME DEVELOPMENT FINANCE FACILITY

The loan package is designed for asset finance for acquisition of commercial properties such as office buildings, shopping centers, industrial warehouses, or apartment complexes suited to your budget and with the ease of long term repayment.

The loan tenor has a Maximum 36 months with Minimum loan amount of N500,000

2. SME ASSET FINANCE FACILITY

This loan from First city monument bank helps to finance acquisition of new assets for the day to day business of SMEs to improve business productivity. The credit gives your business the opportunity to acquire that important machinery or equipment to increase efficiency and productivity.

The finance acquisition loan Target at

. Manufacturers
.Retail and wholesale customers in physical day-to-day business
.Contractors

You can get a loan amount of Minimum of N500,000 – Maximum of 3 Million (increased limit approval available) the duration for this type of loan is 12 – 48 Months

How To Apply

Formal request letter is to be submitted to the Relationship Manager at the nearest FCMB Branch or
send an email to SMEhelpdesk@fcmb.com

 

3. SME WORKING CAPITAL FACILITY

The Working Capital solutions are designed either as term or overdraft to support businesses with finance to free up their equity fund and still satisfy both maturing business operational finance obligations and planned expenses.

How To Apply

Formal request letter is to be submitted to the Relationship Manager at the nearest FCMB Branch or send an email to SMEhelpdesk@fcmb.com

4. QUICK LOAN

With FCMB Quick Loan service, you can get a short-term facility of up to ten million naira with no collateral required. THE BANK have two types of short-term facilities/loan which are:

.School Aid Facility (SAF)
.School Support Facility (an hybrid of SAF due to impact of COVID-19)
.Temporary Advance

 

5. SME INVOICE DISCOUNTING FINANCE (IDF) FACILITY

This credit facility is designed to finance invoices issued by potential SMEs to eligible counterparties, SMEs operating within the service industry with diversified sources of income. These facilities allow your business to get prompt payment while we discount its invoice.

The loan is target at Target

.Contractors.
.Manufacturers
.traders
With loan tenor of 1-180days and it has Minimum amount of N500,000

6. SME LOCAL PURCHASE ORDER (LPO) FINANCE FACILITY

This kind of loan facility is designed to finance Local Purchase Order (LPO) issued to SMEs operating within the service industry with diversified sources of income. It is a short term financial option that provides your business with capital to pay suppliers upfront for verified purchase orders.

It has tenor of 1-180days with Minimum loan amount of N500,000…It’s designed for Contractors and Manufacturers.

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