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  5. SME Invoice Discounting Finance (SME IDF)

This is a short term borrowing facility which provides a quick cash flow solution to your business needs. Your business can draw money against invoices (receivables) issued before your clients pay for products supplied or services rendered.

To access this loan, please walk into your nearest branch and submit the required documents to the relationship team for processing.

Loan Dynamics

  • Maximum of ₦50Million (subject to 70% of invoice value).
  • Tenor is 60 days (maximum waiting period of 30 days).
  • Bullet repayment upon maturity of the facility with monthly interest.
  • Irrevocable domiciliation of discounted invoice proceeds with GTBank.
  • Competitive interest rate.

Loan Requirements

  • Duly completed SME Invoice Discounting application form.
  • Invoice from reputable blue chip company duly stamped b Principal (name included in the approved list).
  • Copy of Certificate of Incorporation of the business/Operating license for Service Providers [Contractors and professional firms (first time only)].
  • Submission of evidence of prior successfully executed contracts [Contractors and professional firms (first time only)].
  • Confirmed certificate of project completion/delivery.
  • One year account statement with GTBank or other bank.
  • Copy of valid contract with Principal.
  • Personal guarantee of the Sponsor/cross-guarantee from another professional firm.
  • The Letter of irrevocable domiciliation of invoice proceeds by the customer and acknowledged by the principal.