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LPO Financing/Invoice Discounting

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  • LPO Financing/Invoice Discounting

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This product gives you short-term financing to fulfill Local Purchase Orders (LPOs) or access immediate cash against already executed invoices. Whether you’re supplying goods to blue-chip companies or awaiting payment on a completed contract, Plug MFB bridges the cash flow gap so you can deliver and grow.

01

Apply Online

Submit an application on the Plugbank website with your LPO or invoice details.

02

Get Call Back

Our Relationship Manager will reach out to verify your documents and discuss the terms.

03

Process Your Request

Once your LPO/invoice is confirmed and domiciliation is in place, funds are disbursed directly to your supplier or credited to your Plug account.

Security & Insurance

We secure your loan with the financed asset itself. All assets must be

Domiciliation of payment from principal to Plug MFB

Personal guarantee of company promoter

Chattel mortgage, property charge, or acceptable business assets

In special cases: Remita/Mono mandates and NIBSS monitoring

  • Who Can Apply?

    To apply for a Loan

    • Registered contractors, vendors, or SMEs with: A valid LPO or An executed invoice from a Plug-approved principal
    • Must have been operating for at least 12 months
    • Must have an active business account and verifiable cash flow

  • Eligibility to Apply

    To apply for a Loan

    • Valid LPO or Invoice (supply contracts only)
    • Company’s CAC registration documents
    • 12-month bank statement
    • Valid ID + Passport photo
    • Domiciliation agreement or confirmation of payment
    • Clean credit report (from at least 2 bureaus)
    • Completed application form
    • Collateral or guarantor (as required)

  • Loan Terms

    To apply for a Loan

    • Facility Type: Advance
    • Use Case: Fulfill LPOs or monetize invoices from pre-approved clients
    • Amount: Up to ₦10,000,000 (≤50% of LPO value or 60% of invoice value)
    • Tenor: Up to 90 days (extendable by 30 days)
    • Interest: 5% flat monthly
    • Fees: 3% one-time
    • Repayment: Bullet repayment upon invoice/LPO proceeds
    • Security: Domiciliation + Guarantee or Asset-based Collateral

Send Your Request &
Get Call Back

Fill all the necessary details and Get call from experts.