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+(252) 611 38 2020
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info@bbbank.so
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LPO Financing
A loan production office, or LPO, is an administrative division of a bank that is focused solely on loan requests.
- Tailored to contractors and vendors of reputable organizations
- Maximum tenure is six months with the option of a 90-day renewal after the expiry of the facility
- The Facility Amount does not exceed 60% of the supply order
- Irrevocable agreement in respect of contract proceeds is executed by the Bank Customer, BB
Bank and the organization issuing the LPO - The organization issuing the LPO must be reputable and financially sound e.g., the Federal
Government, Regional Governments, International NGOs and key reputable companies - Sharia Contract: Diminishing Musharaka / Murabaha
- Filled Facility application form
- Certificate of registration (CR)
- 3 years audited accounts
- 12 months bank statement
- Copy of Lease/Proof of location of the business
- Director's joint and several guarantees
- Irrevocable assignment of payment
- Copy of Performance / Bid Bond issued
- Company profile (overview)