Obligor Limit: N20,000,000 (Twenty Million Naira)
Product Description: Facilitates purchase of brand-new non-specialized physical assets, e.g. cars, trucks, generators, electronics, home appliances, etc.

Criteria

15% of average monthly credit turnover must cover monthly lease repayment. The Asset is classified as follows:

  • Motor Vehicle/Trucks – 3 years
  • Heavy Duty Generators – 2 years
  • Office Equipment/Electronics – 1 year

Interest Rate:  26% p.a.
Fees:  1% flat Commitment & 1% flat Management
Transfer Fee:  0.5% flat at the end of the lease period

Security

  1. Ownership of the asset by HBL
  2. Comprehensive Insurance via Heritage Banc assurance Unit noting Heritage Bank Limited as the first loss payee
  3. Personal Guarantee of the obligor
  4. Undated cheques from other bank(s) — where applicable

Request for a Finance Lease Loan

Facilitates the purchase of brand-new non-specialized physical assets to grow your business

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At Heritage Bank we cultivate real partnerships with Micro, Small and Medium Enterprises (or MSMEs, if you like). You practically become part of a family – call it a ‘progress club’. By our very nature, our services are personal, and deliberately approached from a bespoke angle, to simplify your life.

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