VAF distributor finance
The distributor’s business should have been in existence for 6 months. However, where a name change exists for an existing business within 6 months prior to the application, this criteria will not be applied. Contact the nearest branch and ask for Business Banker for further inquiries
- Maximum 10 years old by exit of finance (i.e. facility must be fully paid by 10th anniversary of date of manufacture) for used Vehicles Subject to vehicle not exceeding 70,000Km and minimum warranty of 3 – 6 months on engine and gear box but limited to Toyota, Mercedes Benz, BMW, Audi, Land Rover, Nissan, Honda, Mitsubishi, Ford, Volkswagen, Chevrolet, Dodge, Infiniti Jeep, Lexus, Acura brands while limiting to N20m cap. And minimum contribution of 20% Note:- other brands are 8 years.
For VAF distributor finance
- Motorcycles - 12 months
- Tricycles - 24 months
- Passenger and Commercial vehicles 48 months
For Principal without existing CIB relationship.
- Passenger and Commercial vehicles 36 months
Used Construction equipment (Yellow metal)
|1 - 48 months||35%|
|49 - 60 months||40%|
- 30% equity contribution for existing customers who have borrowed with the bank to fund printing equipment purchase and performed satisfactorily.
- 30% equity contribution and additional collateral for customers with tangible collateral.
- 40% equity contribution for customers in the commercial sub-segment.
- 50% equity contribution for customers in the SME 1 segment
For any other Assets finance requests, please send an email to: [email protected]