Q. Who are distributors?
A. Distributors/Dealers are first level authorized sellers in the chain of supply/distribution; they deal directly with the large corporate/principal.
Q. Who are Principals?
A. Principals are large corporates, multinationals or conglomerates in to sale of finished goods or stock.
Currently, this form of facility is available to distributors of the principals listed below;
Dangote Group, Cadbury, MTN, Etisalat, Zain, Starcomms and Flour mills.
Q. What we offer distributors
A. Bank Guarantees and overdrafts
Q. Eligibility
A. A dealer or distributor must have two years experience in the business and one year active business banking relationship to qualify for our facility.
Q. How much can a distributor/dealer access?
A. We have streamlined access to finance to the needs of each category of distributor along TIERS which vary from one principal to the other.
Q. What is the tenor of the facility?
A. Bank guarantees and overdraft for distributor finance facilities are availed for a 12 months period.
Q. May I use existing account types?
A. No, we have special current account type with restricted drawings to only principals’ account.
Q. Repayments?
A. The repayment of the overdraft is from the daily sales of the principals’ products which should reflect the distributors’ trade cycle.
Q. What are the pricing terms?
A. We offer very competitive interest rates and charges; they are reviewed from time to time in line with market realities.
