The product is designed to part finance the acquisition of brand-new vehicles for SMEs for the day to day running of their business activities.

Tenor: 

Tier 1 – 36 months

Tier 2 – 24 months

• Competitive pricing
• Flexible tenor
• Flexible collateral structure
• Vehicle must be purchased from a FirstBank approved vendor
• Insurance policy on the vehicle

• Repayment does not eat deep into company’s cash flow
• Seamless distribution of goods from one location to the other
• Supports business growth and expansion by giving beneficiaries the opportunity of purchasing the vehicle with ease

• Business should be duly registered with Corporate Affairs Commission
  
• Customer must have been in business for at least 24months
• Customer should have maintained an active account with either FirstBank for minimum of 6 months or 12 months with other banks. Account(s) must have been operated satisfactorily without a history of returned cheques or previous default on facility or facilities granted.