This product is designed to offer finance for the execution of contracts from FirstBank-approved list of companies.
- Obligor must be the primary contractor of the Principal (not Sub-contractor)
- Maximum facility tenor of 6 months, with an option of renewal over a maximum of 3 months
- Facilities above N50m will require an additional FirstBank acceptable security
- Loan amount not to exceed 70% of estimated total cost of executing the contract, 30% of which must be evidenced as customer's equity participation
- Terms & Conditions apply
- - Access to finance to finance for smooth contract execution.
- Contract Papers issued by the company awarding the contract
- Bill of Quantity for the contract to be executed
- Evidence of previous similar contract(s) executed by Contractor
- Evidence of relevant government agency approval for contract
- Any other documents that may be required by the bank
- Download the Contract Finance Application Form
- Complete the form and submit to the Retail Team at the nearest FirstBank branch