LOAN TERMS:
Lender
LOAN TERMS:
Central Bank of Nigeria
Eligibility
LOAN TERMS:
This is a long term loan for the refinancing Aircraft Hangar projects, existing loans and leases of Power and Airline Projects. Working capital facility of one year with provision of roll over for a maximum of 5years.
Loan Limit
LOAN TERMS:
Maximum Limit: 70% of the total cost
Interest Rate
LOAN TERMS:
Maximum Interest Rate: 7 – 9% p.a
Max Tenor
LOAN TERMS:
Maximum Tenor: 15 years
Security Required
LOAN TERMS:
Minimum Equity Contribution-30% of total project cost plus any of legal mortgage, all assets debentures, personal guarantor
Documents Required
LOAN TERMS:
Request letter from the projects promoter
Last 3years Financials
6months account statement
Certificate of Incorporation
Copies of duly executed offer documents evidencing existence of facility
Feasibility study that includes the cash flow projections detailing the repayment schedule
Relevant permits
Off-take and other relevant agreements
Environmental impact assessment report
List of directors of the company
Other documents as may be required by the TA to facilitate the appraisal process
Approval Time
LOAN TERMS:
About Four (4) months from the time you submit all the required documentation
