LOANS AND ADVANCES
The various types of loans are:
It mainly involves the granting of loan facilities to individuals who are gainfully employed or has a regular flow of income. The aim of the loan is to enable individual meet necessary needs.
This is basically making funds available for the operational needs of a business. A charge is usually taken on the working assets of the borrower for the duration of the facility.
This is a loan taken in anticipation of an expected payment on a service rendered. It is usually short term, with the assets of the business/individual used as security.
This is the granting of short term facilites to finance LPO/Job orders from reputable organizations. It is usually for purchase of goods within our borders.
This service is designed to bridge the funding gap of suppliers who have receivables from previous supply jobs and need funds to execute new jobs or run their operations. It is essentially the provision of finance against the security of receivables. This facility is provided only where goods or services have been supplied from business to business on credit terms
This is usually medium or long term in nature. It is always targeted at a particular project.
Drawdown on this form of loan is in stages, depending on agreed terms and project milestones.
For an organization to achieve set objectives, the adoption of a benefit structure that ensures goal congruence in the area of employee-employer relationship is often essential.
The CFS Financial Services Ltd Consumer Loan Scheme is a Retail Loan Package aimed at providing client’s employee with a convenient option of meeting their financial needs under a more flexible and agreed repayment tenor.
The scheme is a work benefits compensatory to the employee commitment, loyalty and productivity. The employer is usually required to repay the loan and charge same to employee’s payroll, and to guarantee such facility in an event of default or cessation of employment.
LEASES
Our lease facilities includes:
This is an agreement between the lessee and the lessor, where the lessor agrees to finance the purchase of an asset for the lessee, who in turn agrees to a structure repayment of the value of the asset as well as a margin of income to the lessor. The asset purchased serves as the collateral for such facilities. Repayment can be structured to suit the cash flow of the lessee. The title of the asset reverts back to the lessee after full and final servicing of all obligations on the lease agreement. This type of facility is available for individual, enterprises and corporate organization.
This form of lease involves the refinancing of an already existing assets, so that funds can be made available to the business. The assets of the business are sold to the lessor, who in turn leases it back to the lessee for an agreed term and tenor, during which the title reverts to the lessor (by way of an executed Bill of Sale agreement) for the duration of the lessee after full and final servicing of all obligations on the lease agreement.
