The first step to applying for a Pivo Capital loan is opening a Pivo Business account. You can do this through the Pivo website or by downloading the Pivo app. The process is straightforward and our customer service agents are available to assist you if you send them a message on WhatsApp.
What do you need to open a Pivo Business account?
- Certificate of Incorporation
- Memorandum and Articles of Association
- Complete CAC FORMS or up-to-date CAC Status Report
- BVN of the directors of the company/partners of a partnership
- Valid National ID of the directors of a company/partners of a partnership
- Proof of business address of the company (utility bill)
- Service fee for Corporate Search/Due Diligence fee: NGN 10,750
- Service fee for Nigeria Uniform Bank Account Number (NUBAN) creation – NGN 537.50
- Board Resolution to open an account with Pivo
Once these requirements are met and your account is opened, an account manager will be assigned to you and guide you through the loan application process. Pivo Capital loans are designed to meet the different needs of your supply chain SME – logistics and transport, wholesale distribution, suppliers and manufacturers.
The different loans, features and requirements are listed below. If you have any questions, please send us an email at hello@pivo.africa or call us on 08061498208.
| Product Name: LPO Finance (N500,000-N20,000,000) Features: 1. Available to all small and medium sized businesses seeking working capital to perform on local purchase orders 2. Minimum equity contribution of 25% of the contract sum 3. Available for a maximum tenor of 90 days 4. Competitive interest rates Requirements: 1. Valid Pivo Business account 2. Copy of the PO/Supply Order and the underlying contract agreement 3. Confirmed pro forma invoice of ultimate supplier (where appliable) 4. Preceding 6 months’ statement of accounts with existing banks 5. Board Resolution authorising the request and acceptance of the loan. For business names, letter of application 6. Domiciliation of payment from the contract employer to Pivo or acknowledged letter from the supplier nominating Pivo Africa as its banker and receiver of contract proceeds 7. Assignment of invoice proceeds to Pivo Africa by supplier duly acknowledged by the contract employer 8. Clean Credit Bureau Report |
| Product Name: Invoice Discounting ( Features: 1. Available to all small and medium sized businesses seeking working capital to discount approved invoices 2. Available for a maximum tenor of 90 days 3. Competitive interest rates Requirements: 1. Valid Pivo Business account 2. Copy of the confirmed/accepted invoice 3. Preceding 6 months’ statement of accounts with existing banks 4. Board Resolution authorising the request and acceptance of the loan. For Business names, letter of application 5. Domiciliation of payment from the contract employer to Pivo or acknowledged letter from the supplier nominating Pivo Africa as its banker and receiver of contract proceeds 6. Assignment of invoice proceeds to Pivo Africa by supplier duly acknowledged by the contract employer 7. Clean Credit Bureau Report |
| Product Name: Trip Finance (N500,000-N5,000,000) Features: 1. Available to all small and medium sized businesses that provide haulage and delivery services for accredited contract employers and require working capital to finance the contract or to bridge the finance gap between delivery and payment 2. Available for a maximum tenor of 45 days 3. Competitive interest rates Requirements: 1. Valid Pivo Business account 2. Copy of the underlying contract agreement 3. Copy of Agreement and Valid Waybill/Delivery Order 4. Copy of the approved for payment invoice (where financing is to discount approved invoices) 5. Board Resolution authorising the request and acceptance of the loan. For Business names, letter of application 6. Preceding 6 months’ statement of accounts with existing banks (where an active relationship with Pivo is less than 3 months) 7. Domiciliation of payment from the contract employer to PIVO or acknowledged letter from the supplier nominating Pivo Africa as its banker and receiver of contract proceeds 8. Assignment of invoice proceeds to Pivo Africa by supplier duly acknowledged by the contract employer 9. Clean credit bureau report |
| Product Name: Inventory Finance/Trade Receivables (N500,000-N5,000,000) Features: 1. Available to all small and medium sized businesses who engage in trade activities such as buying and selling but do not have a structured distributor finance arrangement in place with major manufacturers 2. Available for a maximum tenor of 60 days 3. Competitive interest rates Requirements: 1. Active Pivo Business Account 2. Minimum of 90 days of transactional data using the Pivo Business Account 3. Supplier’s pro forma invoice 4. Authenticated off-taker agreements (where available) 5. Details of existing loans or other credit facilities currently being enjoyed by the borrower 6. Preceding 6 months’ statement of accounts with existing banks (where an active relationship with PIVO is less than 3 months) 7. Board Resolution authorising the request and acceptance of the loan. For Business names, letter of application 8. Beneficial ownership of inventory financed via an executed letter of hypothecation |
