The FirstBank Stock Replacement Facility is designed to provide a structured finance to traders and distributors of Fast Moving Consumer Goods (FMCG) Principals to meet working capital needs
Features
- Customer is required to make either a 20% or 30% equity contribution
- Submit invoices for goods to be purchased
- Maximum tenor of 18 months.
- Payment will be made directly to the supplier
- Tenor of 12 months
Benefits
- Improves your cash flow by bridging the gap between the time when you must pay for imported goods and the time when you receive payment for selling them
- Enables you to pay suppliers promptly, building your business credit rating and reputation
Required Documentation
- Application letter
- Duly completed application form
- Certificate of registration of business entity
- Invoices of goods to be purchased
- Audited financials
- Company’s financials
- Other Banks’ statement of account of 12 months preceding application
To apply for the Stock Replacement Facility,
- Visit the nearest FirstBank Gambia branch
