Tender Contract & LPO Finance Loan
The Anchor Finance Tender Contract & LPO Finance Loan is designed to assist businesses with securing funding for tender contracts or Local Purchase Orders (LPOs). It’s ideal for businesses that need financial support to meet contract obligations, offering flexible repayment terms.
Key Features of the Tender Contract & LPO Finance Loan
Below are the key features of the Tender Contract & LPO Finance Loan:
- Loan amounts from Rwf 1,000,000 to Rwf 50,000,000
- 4.5% monthly interest rate (54% per year, flat rate)
- 1% + VAT application fee
- 2% + VAT disbursement fee (paid upfront)
- 6% + VAT disbursement fee (paid upfront)
- 10% monthly late payment penalty on principal
- Payment frequency: Bullet payment at loan's end
- Tenure: 1 to 6 months
-
Types of accepted collateral:
- Immovable assets
- Movable assets
- Bonds
- Fixed bank savings
-
Collateral coverage ratios:
- In Kigali city: 70% of forced sale value
- In Satellite cities (Rubavu, Musanze, Bugesera, Huye): 50% of forced sale value
- In the remaining areas: 20% of forced sale value
Loan Requirements
Below are the mandatory documents required to apply for the Tender Contract & LPO Finance Loan:
- Loan Application letter (including: amount needed, purpose of the loan, location of the collateral stock)
- Business background
- Business certificate from RDB
- Proof of no outstanding loan from RRA
- History of the bank account (12 months)
- History of MomoPay account (3 months)
- 29,500 FRW application fee
- Valuation report of stock by Anchor Finance valuer
- List of how the loan will be used
- Invoice for purchased stock
- Proof of tax payment for the stock
