With Vendor credit loan, you can get loan up to NGN200million to support your business in the areas of financing Local purchase order, invoice discounting, asset purchase financing and working capital loan.
The information provided in this article concerning this app is based on information available from the owners of the app and in no way represents the opinion of growfinance and it’s authors.
Vendor Credit Loan Products
Vendor Credit has four Loan products you can benefit from to grow your business:
1. Local purchase order (LPO) Financing
You don’t have to miss out on orders, contracts and projects because of inadequate financing. Vendor Credit provides you with the cash you require to finance purchase orders.
2. Invoice Discount Finance
With this facility you can get discounts on unpaid invoices.With their Invoice discounting Finance solution, they offer you advance payment of your unpaid invoices. You don’t have to put business growth initiatives on hold because your customers have not paid up
3. Asset Finance Loan
This product allows to buy the asset you need to grow your business. Whether it’s a small tool or huge machinery, Vendor credit will give you the funds necessary to finance the purchase of whatever assets your business needs to grow..
4. Working capital Loan
Their working capital financing solutions help SMEs keep the lights on and the business running. You can keep your business stocked up and never have to disappoint customers.
Features/Benefits Of Vendor Credit Loans
1. No collateral required
They don’t require collateral to give loans to businesses. In fact, they don’t think collateral makes a lot of sense for MSMEs.
2. Zero paperwork required
With Vendor Credit Simply Set up your business profile and apply for loans from the comfort of your home, office or wherever you are.
2. Decision within 1 business day.
They understand how important speed is to making the most of opportunities. You’ll get a response from them within 24 hours of applying.
3. No guarantors required
Their tech-enabled loan approval system ensures that only the minimum requirements are asked of you.
4. Loans up to 200M
Big or small, they finance projects and business initiatives of all sizes. Just let them know how much you need. They can handle it.
How to apply Apply For Vendor Credit Loans
Follow these 3 steps below to get your loan funded.
STEP 1
Download the App from playstore
Create and set up an account
Create an account through their web platform or Android/iOS mobile applications and follow the prompts to set up your account.
STEP 2
Tell them about your business(es)
Set up your business profile by giving them a few details about your business. They’ve made it possible to set up multiple businesses so you don’t have to create multiple accounts on theirr platform.
STEP 3
Apply for a loan
Once your business profile is all set up, you can instantly apply for a loan on their platform. Their team will reach out to you within a few hours of your application.
Everything you need to know about Working capital loans
Vendor Credit Interest rate
Their interest rates are calculated based on multiple factors which include your company’s credit history, the loan amount and the tenor of the loan. Apply for a loan today, and get an offer within 2 bbusiness days.
Vendor Credit Loan Tenor
They have a minimum loan tenor of 30 days and a maximum of 90 days.
Vendor Credit maximum/minimum loan amount
They tailor their services to fit the needs of SMEs within the supply chain of larger corporates and as such, they have no minimum loan amount. They have a maximum loan amount of 500 million naira, but if you require more, please fill the contact form in their website to reach out to them.
Percentage of a transaction In Vendor Credit finance
They finance maximum of 80% of the cost of execution of orders and projects.
Reviews From Customers Of Vendor Credit
Many customers of vendor Credit who have used the app to access loans are happy with the app and comment that it works well.
However, some Customers of Vendor Credit complain of difficulty in uploading required documents.
For a detailed individual reviews go to play store
For more details on vendor Credit loan access their website for details
In conclusion, the above information about Vendor Credit loan app is provided to assist you when you have need for online loan to enable you weigh this against other options open to you so as to take an informed decision. We equally advise that you check up our posts on risks associated with online loans, savings and transactions.
Equally note that our website, growfinance, neither provides loans and other banking services nor promotes any app over the other but merely gives information to the public based on information available from app owners such Vendor Credit.