News
VENO NEWS: FirstBank Boosts The Business Operations Of Its Customers With A Bouquet Of Retail Product Offerings
Date: 23-10-22
First Bank of Nigeria Limited (FBNL) has announced its variety of retail products specifically designed to enhance the operations and sustenance of various businesses in the country.
The products: Petroleum Dealership Finance (PDF), Operational Vehicle Finance (OVF) and Commercial Mortgage will strengthen the capacity of businesses to meet their immediate and long-term needs which are required to continually impact the socio-economic development of the country.
Commercial Mortgage (CM) is designed to meet the funding needs of established small and medium-scale enterprises in viable businesses to acquire Business/Office Premises. This product is structured to part finance the acquisition of business/office premises and warehouses as the building itself is collateral. With its competitive pricing entailing a tenor of 60 months, flexible repayment period as well as flexible collateral structure, the product is designed for SMEs across different sectors of the country including accounting, tech, legal and other specialised disciplines. To access the product, customers must have been in business for at least 5years and must have maintained an active account with either FirstBank or any reputable bank for a minimum of 6 months.
Operational Vehicle Finance (OVF) is intended to provide part finance to ease the acquisition of brand-new vehicle(s) essential for the day-to-day running of business activities. Its flexible tenure is in 2 variants, comprising 1 – 24 months and 2 – 36 months which is dependent on the brand of the vehicle. The product is also designed for SMEs as well as traders in all sectors of the economy with verifiable cash flow as they will be at an advantage in sustaining the distribution of goods from one location to another. To be eligible for the service, the customer must have been in business for at least 12 months and should have maintained a healthy and active bank account with either FirstBank for a minimum of 6 months or 12 months with other banks.
Petroleum Dealership Finance (PDF) is created to offer working capital finance to filling stations with a DPR licence for the purchase of kerosene (DPK), petrol (PMS), and diesel (AGO). This product facilitates access to financing opportunities to purchase products at competitive rates. A 12months facility tenor with a cash flow lending option up to N20M is also available. The product is packed with lots of exciting benefits including access to up to N20million without providing tangible collateral as it bridges the customers’ liquidity gap while also aiding the continuous replenishment of stock. The product also provides the opportunity to increase the volume of business as well as margins through consistent growth in turnover through credit financing.
To take advantage of the product, interested customer(s) must have a valid DPR license, and maintain an account relationship with FirstBank or any bank for at least 6 months. The dealer must have been in business for at least 24 months and the account must have been operated satisfactorily without a history of returned cheques or previous default on facility or facilities granted.
According to Folake Ani-Mumuney, Group Head, Marketing & Corporate Communications, FirstBank: “as a bank woven into the fabric of society, we are delighted with the indelible mark and role we have played in boosting businesses in the country, irrespective of the economic sector. Our Commercial Mortgage (CM), Operational Vehicle Finance (OVF) and Petroleum Dealership Finance (PDF) are integral to sustainably enhancing business operations while ensuring that our customers remain at an advantage in meeting their immediate and long-term business goals.â€
Date: 23-10-22
First Bank of Nigeria Limited (FBNL) has announced its variety of retail products specifically designed to enhance the operations and sustenance of various businesses in the country.
The products: Petroleum Dealership Finance (PDF), Operational Vehicle Finance (OVF) and Commercial Mortgage will strengthen the capacity of businesses to meet their immediate and long-term needs which are required to continually impact the socio-economic development of the country.
Commercial Mortgage (CM) is designed to meet the funding needs of established small and medium-scale enterprises in viable businesses to acquire Business/Office Premises. This product is structured to part finance the acquisition of business/office premises and warehouses as the building itself is collateral. With its competitive pricing entailing a tenor of 60 months, flexible repayment period as well as flexible collateral structure, the product is designed for SMEs across different sectors of the country including accounting, tech, legal and other specialised disciplines. To access the product, customers must have been in business for at least 5years and must have maintained an active account with either FirstBank or any reputable bank for a minimum of 6 months.
Operational Vehicle Finance (OVF) is intended to provide part finance to ease the acquisition of brand-new vehicle(s) essential for the day-to-day running of business activities. Its flexible tenure is in 2 variants, comprising 1 – 24 months and 2 – 36 months which is dependent on the brand of the vehicle. The product is also designed for SMEs as well as traders in all sectors of the economy with verifiable cash flow as they will be at an advantage in sustaining the distribution of goods from one location to another. To be eligible for the service, the customer must have been in business for at least 12 months and should have maintained a healthy and active bank account with either FirstBank for a minimum of 6 months or 12 months with other banks.
Petroleum Dealership Finance (PDF) is created to offer working capital finance to filling stations with a DPR licence for the purchase of kerosene (DPK), petrol (PMS), and diesel (AGO). This product facilitates access to financing opportunities to purchase products at competitive rates. A 12months facility tenor with a cash flow lending option up to N20M is also available. The product is packed with lots of exciting benefits including access to up to N20million without providing tangible collateral as it bridges the customers’ liquidity gap while also aiding the continuous replenishment of stock. The product also provides the opportunity to increase the volume of business as well as margins through consistent growth in turnover through credit financing.
To take advantage of the product, interested customer(s) must have a valid DPR license, and maintain an account relationship with FirstBank or any bank for at least 6 months. The dealer must have been in business for at least 24 months and the account must have been operated satisfactorily without a history of returned cheques or previous default on facility or facilities granted.
According to Folake Ani-Mumuney, Group Head, Marketing & Corporate Communications, FirstBank: “as a bank woven into the fabric of society, we are delighted with the indelible mark and role we have played in boosting businesses in the country, irrespective of the economic sector. Our Commercial Mortgage (CM), Operational Vehicle Finance (OVF) and Petroleum Dealership Finance (PDF) are integral to sustainably enhancing business operations while ensuring that our customers remain at an advantage in meeting their immediate and long-term business goals.â€
LINKS
- VENO tv: ENTERTAINMENT CÉLINE DION RETURNS TO STAGE AFTER SIX YEARS- VENO tv: FOREIGN NEWS TRUMP: AMERICA WILL NEVER FORGET VICTIMS OF 9/11 ATTACKS, 25 YEARS AFTER
- VENOtv POLITICS HEROIC WELCOME AS UDOEDEHE ARRIVES UYO AHEAD OF ADC 2027 CAMPAIGNS
- VENO tv: BUSINESS INVEST IN NIGERIA’S FUTURE: SUBSCRIBE TO DANGOTE REFINERY IPO THROUGH FIRSTBANK
- VENO tv: FROM THE PULPIT “DON’T LET YOUR ACHIEVEMENTS LIFT YOUR SHOULDERS IN PRIDE” — OMO OBA JESU DECLARES
- VENO tv: ENTERTAINMENT FAST-RISING ACTRESS PEJU AJIBOYE OPENS UP ON HER JOURNEY, LATEST MOVIE OJA EMI
- VENO TV FEATURE WHY YOU SHOULDN’T MISS FIRSTBANK’S AGRIC AND EXPORT EXPO 2026
- VENO tv: HOSPITALITY AMBER HOSPITALITY LAUNCHES IN LAGOS “Amber Feels Like Family”
- VENO tv FOREIGN NEWS CARGO PLANE CRASHES AT MIAMI AIRPORT Five Killed As Investigation Continues
- VENO tv Business FirstBank Empowers SMEs with Practical Sales Strategies at Upcoming SMEConnect Webinar
- VENO tv | AROUND TOWN ADELEKE JETS OUT ON VACATION, ORDERS PROBE INTO KOKA OBASHIP DISPUTE
- FROM THE PULPIT SUNDAY TONIC TURN BACK TO GOD AS SOON AS POSSIBLE — Pastor Princess Venisa Ojo a.k.a Omo Oba Jesu
- VENO TV: AROUND TOWN OBI, KWANKWASO JOIN AMAECHI FAMILY FOR MOTHER’S FUNERAL EVENTS
- VENO TV FOREIGN NEWS:IRAN–US WAR ESCALATES: WEDDING STRIKE VICTIMS BURIED AS TEHRAN RETALIATES
- VENO TV FOREIGN NEWS U.S. MINT RELEASES NEW $1 COIN FEATURING PRESIDENT TRUMP
- VENO TV: CJPAN MOURNS MEDIA ICON, SOLKEM …Says His Passion for Journalism, Excellence and Recognition of Outstanding Nigerians Will Remain an Enduring Legacy
- VENO TV: FEATURE OGOGO’S DEATH: ILARO CHIEF IMAM — AN EXEMPLARY LEADER
- VENO TV: POLITICS 2027: “SUBSIDY IS GONE” VS “SUBSIDY WILL RETURN” Tinubu: “Subsidy is gone.” Atiku Abubakar: “I will restore subsidy.”
- VENO TV EDITORIAL AS PRESIDENT TINUBU BEGINS THREE-WEEK EUROPE VACATION Shettima Was Away in Angola — What a Country!
- VENO tv: ENTERTAINMENT REGINA DANIELS REPORTEDLY RETURNS TO NED NWOKO’S MATRIMONIAL HOME
Page 1 of 68 [Next] [Last Page]
