Requirements for Bancorp Finance Limited

• Application Letter/ Or Fill application Form 
• Copy of Certificate of Incorporation of the Company, Form CO2, Form CO6 & Form CO7 
• Copy of Memo & Articles of Association  
• Company Profile 
• Audited Accounts for the last three years – If unavailable, Customer should speak up for possible interventions.  
• Bank Statements for the last Six Months 
• Projected Cash Flow for the next twelve months – If unavailable, Customer should speak up for possible intervention.  
• Proforma Invoice of the Asset to be financed  
• Name of a Guarantor – Usually the MD  
• Passport Size Photograph of the Guarantor – Usually the MD 
• ID Card of Guarantor – Usually the MD
• A Copy of Utility Bill (Not more than 3 months) 

Some of the benefits of this product are:  

• Competitive interest rate of 23%  for Single and For Fleet – it is Negotiable  
• Low equity contribution of a minimum of 10% -20 % Equity contribution if for four 4rs and 30% Contribution if tenure is for 5 Years  
• Tenors of up to 60 months (5 years) 
• Structured payment plan – This is Peculiar to the nature of the business and its cash flow. Monthly, Quarterly, Annualy bi Annually.  

Other Charges include:  

• Management Fee (1% – Paid Once),  
• Stamp Duty (1% – Paid Once),  
• Insurance (2.5% – 3.5%; Insurance will pay for Installation of Tracking Device),  
• Credit Search (N10,000 for 2 Entities),  
• Car Registration (N65,000) and Transfer Fee (1% – Payable At maturity of Lease to process change of ownership). 

N/B:    Post-dated cheques will be given to us after the lease documents have been signed.  

• For corporate accounts, the cheques will be in accordance with the agreed repayment patterns plus one leaf of cheque of the Guarantor.