CalBank LPO Financing Scheme
We believe in building a long lasting relationship between us and our valued customers. This is the rationale behind the introduction of our special pre-financing facility tailored for companies with supplier or other contracts agreement with selected reputable companies in the country.
This scheme is designed to address the peculiar credit requests of contractors in need of funds to pre-finance their Local Purchase Orders (LPO). The scheme advance funds to our qualified SME clients to enable them execute business contracts for other reputable companies.
Other benefits of this product include:
- Opportunity to ease working capital constraints.
- Competitive pricing.
- Guaranteed flexible terms of payment.
- Access to readily available credit within clients own timing.
- Prompt advisory service from a team of dedicated account managers.
- Clients shall be updated on monthly loan repayment via CalBank Alert.
- The tenor for the scheme is 120 days (four months).
- Must be an accountholder
- Be a registered Limited Liability Company
- Our maximum credit limit is GHS 200,000.00 or 80% of the contract value.
- Funds will be advanced once client satisfies all pre disbursement requirements.
- Repayment shall be in full on or before expiry date from proceeds of the LPO/Supply
- Submission of Order/Contract documents.
- Client must present the LPO to the bank.
- Submission of formal request letter.
- Client’s LPO shall be duly authenticated and confirmed.
- Acknowledgment of Assignment of Notification of Receivables by employer. This is letter of undertaking from the employer undertaking to make payment after the execution of contract in the joint names of CalBank and the client.
- Accepted offer letter duly executed by authorized signatories.
- Board Resolution authorizing the borrowing and accepting the offer (where applicable).
- Domiciliation and assignment of contract proceeds.
- Submission of six (6) months Bank statement that shows evidence of lodgements of proceeds of past contracts.
- Joint and Several Guarantee of the Directors of the company.