RISK ASSETS PRODUCTS AND FEATURES
Ibom Fadama Asset Finance
This product creates a window for Lease on both Business support and household Items. The objective is to enable customers acquire assets that will boost their income generating capacity, or for personal use to improve their standard of living. The target market includes customers that are gainfully employed or with businesses that are capable of repaying. These items include, but not limited to Home appliances, work appliance and tools.
Feature
- The loan tenure shall be up to 12 months.
- Zero minimum balance.
- Assets will be bought in the name of the IBOM FADAMA MFB LTD.
- Equity contribution of 10-30% of asset worth to be paid by the applicant.
- Two guarantors.
Ibom Fadama Micro Business and Agriculture Loan
This product is targeted at peasant businesses, petty traders and vegetable farmers who require very little amount of money to augment their working capital. The client in this category also include women with small stalls.
Feature
- Loan facilities up to N500,000
- Stock hypothecation and sworn affidavit placing a lien on customer’s goods.
- Daily loan repayment Compulsory.
- Two guarantors for amount of N151,000-N500,000
- Two guarantors to provide cheques for loan amount of N151,000 –N500,000
- Copies of sales book or 6 months’ bank statement is compulsory to show applicant’s business cash-flow.
Ibom Fadama SME Loan
This is a product targeted at SMEs who have need for working capital enhancement, bridge finance towards expected receivables, or for the execution of jobs.
Feature
- Loan amount up to N5000,000
- Up to 12-month loan tenor.
- Securities: (Motor vehicles that are comprehensively insured).
- Minimum of 12 months Bank statement.
- Financial statement (for corporate customers).
Ibom Fadama Salary Advance Loan
Available to civil servants, employees of organized private sector, Blue chips companies, and Telecoms. Repayment is tied solely to a monthly salary.
Feature
- Maximum loan amount in line with single obligor limit and monthly salary.
- Customer must be a confirmed staff; evidence of confirmation must be provided.
- Customer’s pay slip/6 month’s bank statements.
- Tenure maximum of 12 months.
IbomFadama Temporary Overdraft Loan
Trading SME clients with capacity to repay within 30 days.
Feature
- Loan facility up to N5,000,000
- Opportunity to renew after repayment.
- Customer and guarantor’s undated cheques.
- Motor vehicles that are comprehensively insured.
Ibom Fadama Term Loan
This facility is targeted towards customers who have identifiable sources of monthly income, salary, or regular cash flow able to accommodate monthly repayments.
Feature
- Loan amount up to N5,000,000.00
- Evidence of employment confirmation (for employees).
- Customer’s recent 3 month’s pay slip and 6 month’s bank statements (employees).
- 6 month’s statement of account and evidence of regular cash flow for corporate clients.
- Maximum of 12month tenor.
- Two guarantors to be provided.
Empowerment Partnership Loan
We welcome partnership with philanthropists, well-meaning individuals, NGO’s and Corporates who wish to extend social responsibility by, providing seed funding, working capital and cash backing to identified individuals, relatives, friends, associates, and mentees, but wish to guard against misuse of such funds.
This product is designed to promote the responsible and judicious utilization of funding, prevent diversion, ensure business success, and promote financial independence from the fund provider.
Feature
- Hiring periods varies from Hours, Days, and weeks.
- Cost of diesel and operator for account of customer