First Bank open FirstTrader Loan N5 Million above, How to apply for FirstTrader Loan, Are you a market trader? a supermarket owner or you are dealing with fast-moving goods, If Yes, apply for FirstTrader Loan before is too late. Full Details.
The FirstTrader Solution is a short-term overdraft facility offered to traders in pre-approved market locations and supermarkets who deal in fast moving goods. It comes in two variants; the Main FTS (180-day variant) and the Exceptional FTS (90-day variant).
List of Loan/Credit Facility Offer by First Bank:
- Personal Home Loans
- Joint Mortgage
- Automobile Loans
- Salary Loans
- Secured Overdraft
- Contact Finance
- Secured Term Loans
- SME Products Purchase Orders Finance
- Operational Vehicles
- FirstEdu Loan
- Revenue Loans and Overdraft
- Retail TOD
- Commercial mortgage
- Offices Equipment
- First Trader Solution (FTS)
- Health Finance Products Guideline
- Health Finance.
You can also apply for the following:
- ARMTI Tuition Free Training 2021
- Fadama Development Project 2021
- SEIFAC Loan Shortlisted Candidate
- CBN AGSMEIS Loan Up To (5,000,000 and Above)
The loan available First Trader Solution (FTS):
Features:
- Available to traders that deal in fast-moving goods
- Tenor is either 90 days or 180 days.
- Minimum loan amount is N5 Million.
- No collateral is required for the 90 days variant
- Collateral for the 180 days variant shall be equitable mortgage on shop title documents to cover 200% of the facility amount.
- Requires opening of a charged Savings Account with opening amount of 5% of the facility amount.
There will also be subsequent deposits as shown below:
- 0.5% of the loan amount daily throughout the tenor of the 180 days facility.
- 1% of the loan amount daily throughout the tenor of the 90 days facility.
Benefit:
- Provides opportunity for increased business turnover/volume through injection of additional funds.
- Steady build-up of funds which can be used to either pay back the loan or ploughed back into the business upon liquidation of facility
- Easy repayment plan
- No tangible collateral required.
How To Apply:
To Apply for a First Trader Solution loan,
- Download the Retail Loan Application Form
- Complete the form and submit to
- Or to the Retail Team at the nearest FirstBank branch
Or
Apply online Click Here
2021 GRANT: