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Business Loan For Small Business
Citihomes Finance Company provides credit to small businesses to meet their financial and business goals with Fianacial Advisory services from our team of dedicated professionals to ensure the right loan.
Our Business Products
Cash Backed Loan
This product enables customers with qualifying money markets instruments such as Fixed Deposit and Treasury bills to access credit facilities under flexible terms and tenor.
Features
Flexible loan amount and tenor Lien on Fixed Deposit or Treasury Bills
Benefit
1) Assist business to manage cash flow
2) Flexible repayment terms
3) Competitive interest rate
4) Less documentation requirements
Documentations
1) Loan application letter
2) Completed application form
3) Company Profile
4) Execution of Lien documents
SME PRODUCTS FINANCING
We believe that Small and Medium Scale Enterprises are key drivers of the economy, which is why we have designed products and services that create solutions for your business’ growth and sustainability. This is available to business owners to grow and develop their businesses. This applies to viable businesses that have been operating for more than one year.
HOME COMPLETION FINANCE
This product is designed to provide financial support to real estate developers for the completion of residential housing developments that are up to 75% completion and requires internal and external finishing in locations such as Lagos, Abuja and major cities in Nigeria.
Product Features
- Approved building plan and other permits
- Evidence of prequalified subscribers
- Pre-approved mortgage for subscribers
- Architect valuation report
- Favourable title search and charting report
- Favourabke credit checks from two credit bureau
SECURED TERM LOANS
The product is designed to provide funding for organizations to acquire assets, new technology and other capital projects, while repayment is done on installments in line with cash flow on periodic basis.
Accompanying Documents
- Application letter.
- Duly completed Retail Loan Application Form.
- Proforma Invoice from approved vendors.
- Company Profile.
- Current utility bill.
- Latest Audited Account.
- Six (6) months Bank statement.
- Other KYC requirements for opening a corporate account.
Benefits
- Assist businesses manage cash flow.
- Retail businesses may obtain funds for capital projects while repayment is done on instalments.
- Convenient repayment plan (equal monthly or quarterly repayment over 36 months’ period).
- Competitive interest rates.
Features
- Flexible security arrangement
- Tenor of up to 36 months
- Loan amount in line with repayment capacity
- Flexible repayment options
LOCAL PURCHASE ORDER FINANCING
This is a credit product designed to support businesses to execute supply orders from Nigerian Corporates and Multinaltionals within a specified trade cycle.
Documentations
- Insert documentations under business loans
- Valid purchase order
- Letter of domiciliation of contract proceeds
Features
- Facility amount of up to 70% of the purchase order
- Tenor of up to 120 days
- Domiciliation of contract proceeds
Benefits
- Efficient credit process
- Access to working capital
- Supports business growth and expansion
- Contribute to nations GDP.
Invoice Discounting
This is a credit facility designed to provide short term financing to small and medium scale companies with annual average turnover of N250 million to support working capital pending receipt of payment from validated invoices. These facilities shall be availed based on the ability of the credit ratings of the third parties.
Features
Facility of up to 70% of validated invoice Tenor of up to 90 days. Domiciliation of payment of invoice proceeds Competitive interest rate
Benefits
Access to working capital support Support business growth and expansion
Documentations
Validated invoice Letter of Domiciliation Application letter. Duly completed Loan Application Form. Proforma Invoice from approved vendors. Company Profile. Current utility bill. Three years Audited Account. Six (6) months Bank statement. Keyman Insurance Other KYC requirements for opening a corporate account.
Cooperative Loans
This is a loan offered to members of a cooperative for a period of up to 15 months. Here, the cooperative acts on behalf of a unified group of people (its members) which makes it easier for loans to be disbursed and monitored. Repayments from the members are enforced by the cooperative.
Product Features
- Standard loan documentation
- Registration of Cooperative with CitiHomes
- Guarantee from the cooperative for its members
- Verification/Introduction letter for members of the Cooperative
Where To Find Us
- info@citihoms.com
- +23415151115, +23415151116
-
66 - 68, Alexander Avenue.
Ikoyi- Lagos, Nigeria
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