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Support SME Businesses through Funding, Mentorship & Consulting

CreditPRO

Invoice Discounting

It is almost impossible to do business without offering some form of credit to your customers. While you can make sales, unfortunately you don’t have access to the sales proceed immediately as you may have to wait for days, or even months, before payment is received. Delayed payment could be a big clog in the wheel of progress for any business as cash is the life blood of every enterprise.

But not to worry, our Invoice Discounting Facility is the key that immediately unlocks your cash after making your credit sales.CreditPRO’s Invoice Discounting Facility is ideal for any Small & Medium Scale business that needs to have immediate access to cash after making a credit supply.

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How it works
  • Step 1
    Apply for CreditPRO’s Invoice Discounting Facility by filling the form on the website and providing necessary documents relating to the invoice to be discounted.
  • Step 2
    Inform the corporate customer (i.e. Principal Company) on your plan to discount its invoice with CreditPRO and mandate the customer to pay the invoice amount upon maturity to CreditPRO.
  • Step 3
    On confirmation of document authenticity directly from corporate customer, CreditPRO discounts the invoice and credits the business with up to 70% of the valued amount of the invoice.

CreditPRO

LPO Financing

Do you have a contract or LPO with a reputable organization and you need working capital to execute the deal? Then our LPO Financing Facility is your best bet.

Our Relationship Officers will interact with you to understand the dynamics of the contract/LPO and come up with the best funding model that suits the deal. The facility is applicable to SME businesses that have business relationships with reputable blue-chip organizations with good track records. All documents relating to the LPO will be verified with the issuer.

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How it works
  • Step 1
    Business must have a Local Purchase Order from a reputable blue-chip organization.
  • Step 2
    Apply for CreditPRO’s LPO Financing Facility by presenting necessary documentations relating to the LPO.
  • Step 3
    On confirmation of document authenticity directly from the issuing corporate customer, CreditPRO credits the business with up to 70% of the cost of executing the Purchasing Order.

CreditPRO

Asset Re-Finance Facility

This is a facility arrangement that allows a business access working capital by re-financing its already owned assets and at the same time still in possession of the assets.

The Asset Re-finance Facility is a quick fix to businesses’ working capital challenges by using what she already owns to get what she urgently needs. CreditPRO can offer up to 70% of the market valuation of the re-financed asset as working capital loan to the SME.

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How it works
  • Step 1
    A business that already owns an asset without any encumbrance, requests for a working capital facility from CreditPRO who does a market valuation on the asset to determine how much the asset can be re-financed for.
  • Step 2
    Upon agreement, the business borrower transfers ownership of the asset (as it applies) for lease of the same asset for a period of time at an agreed monthly rental fee.
  • Step 3
    Borrower’s account is credited with the working capital loan. At the end of the duration, the ownership of the asset reverts back to the business owner, having fully paid all the scheduled rentals on the asset.

CreditPRO

Clearing Finance

If you are importing your next equipment, machine or motor vehicle, and you are not sure of raising the clearing cost in good time, you can apply for a Clearing Finance Facility in order to avoid paying excessive demurrage on your import.

To qualify for a Clearing Finance Facility, the imported item must be cleared by one of our registered clearing agents who will confirm the genuineness of the “bill of lading” and ascertain the clearing cost. You may also be required to pay up to 20% of the clearing cost as equity contribution on the facility.

The Clearing Finance Facility has a tenor of up to 30days, meaning you have to pay back within 30days of disbursement of the loan. CreditPRO takes custody of the cleared item pending when you make your total repayment on the facility.

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How it works
  • Step 1
    A client who intends to clear his imported asset, such as equipment, machinery or motor vehicle, requests for a Clearing Finance Facility.
  • Step 2
    CreditPRO examines the original bill of lading and other import documents provided by the client to confirm the genuineness of the transaction.
  • Step 3
    CreditPRO appoints a registered clearing agent to confirm the import duty on the asset, while the client signs off all necessary loan documents including transfer of ownership of the imported asset to CreditPRO.
  • Step 4
    Borrower is expected to provide a minimum of 20% of the clearing cost as equity contribution and upon repayment of the facility, ownership of the imported item reverts back to the borrower.

CreditPRO

Revolving Credit

Similar to the conventional credit card products, our Revolving Credit Facility offers a pre-approved source of funding to SME business owners. Our Revolving Credit Facility provides day-to-day working capital to businesses when they need it. The facility is approved for a specific period of time and can be drawn down or repaid partly or fully within the facility period. The advantage in a Revolving Credit Facility is that the borrower pays interest only on what is drawn down and not on the approved amount. The interest is also on a reducing balance.

The Revolving Credit is best suited for businesses with regular needs for working capital as well as regular cash flows. Businesses such as Restaurant, Grocery Stores, Retail outlets, pharmacies are ideal for this facility.

The Revolving Credit Facility is only approved for SME businesses with very good credit ratings and excellent track records.

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How it works
  • Step 1
    CreditPRO approves a revolving credit with a maximum amount and loan duration to a business borrower, having reviewed the business cash flow, valuation of its collateral and applying all terms and conditions.
  • Step 2
    Borrower can request for part of the approved sum at any time within the facility period. Borrower can also pay back any amount during the facility period in order to reduce the interest accrued on the facility since interest is calculated on a reducing balance.
  • Step 3
    At the end of every month, the borrower is required to refund a minimum of 20% of the balance drawn down.At end of the facility duration, borrower is required to nil off his account and collateral is returned to borrower.

CreditPRO

Personal Loan

Our personal loans are offered to individuals in paid employment for personal consumption or for solving pressingpersonal needs e.g. rent, purchase of household item, school fees etc. Personal Loans are granted against the salary of an employee. An employee who has been on a job for a period not less than 6 months, with an evidence of salary payment, is eligible to apply for CreditPRO Personal Loans.

The maximum accessible amount which an employee can access is determined by the gross annual salary of the employee. Repayment is flexible and will be scheduled against the monthly salary of the employee.

Cash should no longer be a barrier! Apply for a Personal Loan today.
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CreditPRO

Asset Acquisition Loan

With our Asset Acquisition Loan, an individual can easily acquire any asset of his/her choice, ranging from home appliances, mobile phones, laptops, inverters, generators etc.

  • Zero equity contribution
  • No advance rental payment
  • Up to 6 months repayment tenor
  • Flexible repayment plan
  • No asset buy-back cost
  • Up to ₦500,000 purchase price
Need to acquire a new asset of your choice? Apply for an Asset Acquisition Loan today.
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We are experienced professionals who understand the dynamics of the business world and are true partners who care about your future business success.

Our Location
  • CITC House, 25, Wemco Road, Off Agidingbi Road, Ogba, Lagos State, Nigeria.
Quick Contact
  • +234 811 655 0865
  • +234 701 444 5475
  • Email: hello@creditprosme.com