Loans & Advances

Flexible Financing Solutions to Support Your Business Growth

Loans & Advances

Whether you require a business overdraft, working capital, or financing for confirmed purchase orders, OmniAfric Trust Bank offers a range of lending solutions designed to support your daily operations and long-term business growth. Our financing options are tailored to help SMEs strengthen cash flow, expand operations, and seize new business opportunities with confidence.

Business Loans

What Are Business Loans For?
Our Business Loan provides small and medium-sized businesses with the financing needed to support day-to-day operations and long-term growth. Whether you're purchasing equipment, expanding your business, or meeting working capital needs, this flexible financing solution helps you invest with confidence while maintaining healthy cash flow.

To apply for a Business Loan, applicants are required to provide:

  • A formal application or request letter
  • Guarantor information
  • Acceptable collateral
  • Structured repayment through fixed monthly installments over the approved loan term
  • Competitive interest rates designed to provide affordable and sustainable business financing

Business Overdrafts

What Are Business Overdrafts For?
Our Business Overdraft provides SMEs with a flexible financing option to manage temporary cash flow challenges. It allows businesses to access additional funds within an approved limit, usually determined by revenue performance and account activity. This solution helps cover short-term obligations such as payroll, inventory purchases, and supplier payments while maintaining smooth business operations. Business overdrafts are typically available for periods of up to one year, making them suitable for managing gaps between business expenses and incoming revenue.

To apply for a Business Overdraft, applicants are required to provide:

  • An application letter stating:
    • Amount requested
    • Purpose of the overdraft
    • Preferred repayment period (3, 6, 9, or 12 months)
  • Board Resolution to Borrow (for Limited Liability Companies)
  • A clearly defined repayment source and schedule
  • Perfected tangible collateral

To apply for a Business Overdraft, applicants are required to provide:

  • A clear explanation of the purpose of the facility
  • Company profile
  • Management team profile
  • Copy of the Tax Identification Number (TIN) Certificate
  • Cash flow projections covering the full repayment period
  • Audited financial statements
  • Business or project plan
  • Market information, including:
    • Key suppliers
    • Main clients
    • Product lines
    • Competitors
  • Interest is applied only to the amount utilized, helping businesses manage financing costs efficiently
  • Management and processing fees of up to 2% may apply and are payable upfront

Local Purchase Order (LPO) Financing

What Is LPO Financing For?
Local Purchase Order Financing provides short-term funding support to contractors and suppliers fulfilling confirmed orders from reputable organizations. This facility helps businesses access the working capital needed to purchase supplies, manage operations, and complete projects on schedule without cash flow limitations.

To apply for LPO Financing, applicants are required to provide:

  • Application letter
  • Board Resolution to Borrow (for Limited Liability Companies)
  • Copy of the Local Purchase Order (LPO)
  • Order confirmation letter
  • Payment domiciliation letter
  • Security documents
  • Completed guarantee forms
  • Enhanced business capacity to fulfill confirmed orders without cash flow constraints
  • Dedicated working capital to support procurement and order execution
  • Improved liquidity, enabling your business to undertake larger projects and new opportunities

Working Capital Finance

What Is Working Capital Finance For?
Our Working Capital Finance Facility provides businesses with short-term funding to support everyday operational expenses. It helps finance inventory purchases, production costs, payroll, and other essential business needs, ensuring stable cash flow and uninterrupted operations while supporting business growth.

To apply for Working Capital Finance, applicants are required to provide:

  • Client’s application letter
  • Board Resolution to Borrow (for Limited Liability Companies)
  • Memorandum and Articles of Association or Articles of Partnership
  • Security documents, which may include:
    • Land Certificates
    • Title Deeds
    • Certificate of Ownership
    • Vehicle Insurance
    • Stock Hypothecation
  • Company’s annual accounts and reports
  • Three years of audited financial statements
  • Projected cash flow statements demonstrating repayment capacity

To support your Working Capital Finance application, the following security requirements apply:

  • Acceptable tangible collateral, such as landed property
  • A guarantor who is an existing customer of the Bank

Cheque Discounting

What Is Cheque Discounting For?
Our Cheque Discounting Facility enables businesses to access funds before the maturity of eligible post-dated cheques. By converting future cheque payments into immediate working capital, this short-term financing solution helps improve cash flow and ensures your business can meet ongoing financial commitments without delay.

To access the Cheque Discounting Facility, applicants are required to have:

  • A functional and active account with the Bank
  • A valid post-dated cheque eligible for discounting
  • Early access to funds before the cheque reaches its maturity and clearing date
  • Competitive interest rates applied only to the discounted amount utilized
  • If the cheque is dishonoured upon presentation, the full cheque value will be debited from the customer’s account
  • Customer indemnity required through the completion and signing of an indemnity form