Device financing – How it works

 

1) Customer decides what product he/she wants
2) Complete loan application form and submit to iStore
3) The Device Finance partner who will collect and process the completed forms
4) You will need to pay one current dated cheque for the first month’s instalment and seven post-dated cheques for the remaining seven months
4) The loan value will be inclusive of 5% insurance which is mandatory and covers physical damage (physical damage is not covered under standard warranty)

 

  • Required documents for Guarantor:

    •    Duly completed form

    •    1 x passport photograph (Guarantor to write name of the photograph)

    •    Agreement form

    •    Employer’s Identity Card

    •    One month certified bank statement (State BVN number)

    •    Postdated cheques

    •    2 x cheques for 6 moths tacitly tenor

    •    3 x cheques for above 6 months facility tenor

    •    Official e-mail address

  • Required documents for individual:

    •    Formal letter of Application for the facility stating the amount, purpose of the      facility, tenure, source of repayment and proposed security.

    •    Personal profile (CV)

    •    Pay slip (6 months)

    •    Copy of employment letter

    •    Stamped statements for 6 months

    •    Copy of employer’s ID card or other means of Identity and two passports

    •    Most recent utility bill

  • Required documents for corporate:

    •    Application Letter on Company Headed Paper stating intent to acquire lease      facility for stated equipment

    •    Two Passport photograph of the Authorized Signatories

    •    Memorandum and articles of Association

    •    Certificate of Incorporation

    •    Corporate and Management profile

    •    Board resolution requiring the company to take on the lease

    •    Most recent Audited Financial Statements or Management Account for current      period

    •    Original Signed and Stamped Bank Statement for the last Twelve (12) months

    •    Tenancy Agreement (where utility bill is not in applicant name)

    •    Most recent Utility bill