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.
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.
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.
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.
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.
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.
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.