Local Purchase Orders Finance

Meet all your customers’ orders in time and never run out of stock with the Local Purchase Order Finance. This loan facility is designed to provide short term financing to small and medium scale retail customers with annual turnover of N500 million and below facility to carry out supply orders.

Features

  • LPO finance is subject to a maximum tenor of 90 days with the option of 60 days renewal after the expiry of the facility.
  • Loan Amount does not exceed 70% of cost of supply.
  • Irrevocable Tripartite domiciliation of agreement in respect of Contract proceeds executed by beneficiary company, FirstBank and the employer company.
  • The employing company must be on the FirstBank list of Principals.

 

Benefits

  • Gives customers ability to carry out supply orders within a given time frame.
  • Gives customers access to working capital.
  • Supports business growth and expansion.
  • Contribute to nations GDP.

 

Accompanying Documents

  • Customer’s application letter.
  • Letter from Employer confirming the Invoice and stating details / time of payment.
  • Valid means of identification (National ID, International passport or Drver’s License) of prime mover or 2 of the company directors for limited liability companies.
  • Six (6) months statement of account.
  • LPO supply paper.
  • Letter of domiciliation of contract payment from Employer Company.

 

Who Can Apply

  • SMEs with annual turnover up to N3billion.

To apply for a Local Purchase Order Finance,

                     Frequently Asked Questions 

1) Can the supply order come from any company?

No, it has to be from an approved Principal of FirstBank.

 
2) Is any collateral required?

Yes, domiciliation of business proceeds to the bank.

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FirstBank Privacy Policy for IBM DNA E-Learning

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This privacy policy stipulates the bank’s approach to handling your data and your rights in the course of providing you with the IBM DNA learning platform to meet your needs.

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In the course of consuming the services provided to you by IBM through FirstBank, we collect information you provide us via online registration forms and correspondence by mail etc. The information we collect may include but not limited to identity information, location, contact information and education level.

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FirstBank Privacy Policy for Roducate

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At First Bank Nigeria Limited, we put you first and are thus committed to protecting and respecting you privacy. We are committed to being transparent about how we collect, process, share and manage data about you (our customers and staff).

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This privacy policy stipulates the bank’s approach to handling your data and your rights in the course of providing you with the Roducate learning platform to meet your needs.

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In the course of consuming the services provided to you by Roducate through FirstBank, we collect information you provide us via online registration forms and correspondence by mail etc. The information we collect may include but not limited to identity information, location, contact information and education level.

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FirstBank will process our information for the following purposes;

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To ensure access to the e-Learning platform and in furtherance of your own learning objectives, FirstBank and our partners may share data you provide us with our service partners specifically in scope of this engagement to support your learning objectives. Data will be processed within systems owned and operated by any of the parties involved in the delivery of the e-learning service to you. The processing may occur in locations (some outside Nigeria) with different levels of data privacy maturity but from where these services are most effectively rendered.

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FirstBank Privacy Policy for Curious Learning

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At First Bank Nigeria Limited, we put you first and are thus committed to protecting and respecting you privacy. We are committed to being transparent about how we collect, process, share and manage data about you (our customers and staff).

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In the course of consuming the services provided to you by Curious Learning through FirstBank, we collect information you provide us via online registration forms and correspondence by mail etc. The information we collect may include but not limited to identity information, location, contact information and education level.

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We don’t ask for your personal information unless we need it to provide services for you. You will be considered to have given our consent to FirstBank for processing your personal data when;

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FirstBank will process our information for the following purposes;

FirstBank will limit the collection and use of your personal information for the stated purposes.

  1. INFORMATION SHARING AND DISCLOSURE

To ensure access to the e-Learning platform and in furtherance of your own learning objectives, FirstBank and our partners may share data you provide us with our service partners specifically in scope of this engagement to support your learning objectives. Data will be processed within systems owned and operated by any of the parties involved in the delivery of the e-learning service to you. The processing may occur in locations (some outside Nigeria) with different levels of data privacy maturity but from where these services are most effectively rendered.

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