This is a facility aimed at easing working capital burdens on small and medium scale enterprises (SMEs). The Firm lends against confirmed invoices issued by SMEs to their respective clients. Repayment is structured and aligned to the repayment date of the said invoice. The tenure may not exceed 6 months.
Under this loan, Pinnacle Financial Services requires SMEs to possess the following to qualify for this loan:
- Business Registration
- National ID
- MRA Taxi Clearance
- Signed LPO/Contract
- 6 months bank statement
- Financials for the amount over 10million
- Partnership deed for a partnership business/Articles of association for a Limited company
- Business Profile
- Assignment of proceeds /Documents for the property to be pledged
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