Polaris Business Loan (PBL)
Polaris Bank
About Polaris Business Loan (PBL)
PBL is a turnover based lending facility targeting SMEs in Trade and General commerce (wholesale and retail trade activities) who deal in Fast Moving Consumer Goods (FMCG) and whose businesses generate daily cash flow. Its repayment is expected within a short term period. RISK ASSET ACCEPTANCE CRITERIA (RAC) • Applicant must have a registered business. • Applicant must have at least 12 months length of experience in line of business. • Applicant must have been in a banking relationship with Polaris Bank or any other reputable bank for at least 12 months’ evidenced by a bank statement. • Applicant must operate from a physical location. • Applicants’ object clause must be FMCG (with very high repeat purchase)
Requirements for loan
- Salary must be domiciled with the bank
- CAC
- Bank Statement of the Business Enterprise for a period of one (1) year (for existing business)
States Covered
Provider Details
About provider
Polaris Bank was established by the Central Bank of Nigeria (CBN) on September 21, 2018 to offer commercial banking services to the Nigerian public. The bank commenced services on the same day, having purchased the assets, and assumed certain of the liabilities, of the defunct Skye Bank.
About Polaris Business Loan (PBL)
PBL is a turnover based lending facility targeting SMEs in Trade and General commerce (wholesale and retail trade activities) who deal in Fast Moving Consumer Goods (FMCG) and whose businesses generate daily cash flow. Its repayment is expected within a short term period. RISK ASSET ACCEPTANCE CRITERIA (RAC) • Applicant must have a registered business. • Applicant must have at least 12 months length of experience in line of business. • Applicant must have been in a banking relationship with Polaris Bank or any other reputable bank for at least 12 months’ evidenced by a bank statement. • Applicant must operate from a physical location. • Applicants’ object clause must be FMCG (with very high repeat purchase)
Requirements for loan
- Salary must be domiciled with the bank
- CAC
- Bank Statement of the Business Enterprise for a period of one (1) year (for existing business)
States Covered
Provider Details
About provider
Polaris Bank was established by the Central Bank of Nigeria (CBN) on September 21, 2018 to offer commercial banking services to the Nigerian public. The bank commenced services on the same day, having purchased the assets, and assumed certain of the liabilities, of the defunct Skye Bank.
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