LPO Financing is a type of business finance loan provided to vendors or contractors who are falling short of resources to deliver orders or goods. The loan is facilitated against official LPO or Local Purchase Order as received by the vendor declaring the commitment to supply certain goods at a fixed price. LPO finances serve as beneficial loans for small businesses in Nigeria to fulfill their contractual needs and manage operational expenses. In a bid to empower small businesses, MyX3 offers flexible and quick LPO financing services to deliver goods and services efficiently.
Let’s discuss in detail some major benefits of opting for LPO financing as a business loan in Nigeria-
Benefits of LPO Financing Loans for Small Businesses in Nigeria
1) Easy to Access
Unlike traditional banking setups, technological development has helped people to connect with financial services in a few clicks. Today, individuals, businesses, and contractors can borrow money online easily through their desktop or mobile phones. As an emerging online loan company in Nigeria, MyX3 provides access to LPO finances through an easy-to-use web application. The availability of MyX3 application across devices makes it a user-friendly and easily accessible platform for all types of financial business needs.
2) Quick Disbursement
Businesses need to address their operational requirements timely in order to tap into the right opportunities at the right time. Especially, LPO financing is the ideal financial assistance for small businesses that can be availed for short-term business needs quickly and easily. With MyX3, businesses don’t need to worry about a halt in operations due to a lack of funds. Apply for small business loans at MyX3 to access LPO funds within 48 hours of loan application confirmation.
3) Flexible Security Requirement
Another benefit of opting for LPO financing is that it involves minimum documentation for loan approval. Also, security requirements for LPO loan approvals are flexible and dynamic so that it serves diversified business needs. At MyX3, we understand that emerging businesses are already low on resources and it is difficult to access business loans in Nigeria. We, therefore, provide tailormade or bespoke LPO financing services according to different business needs.
4) Accelerated Business Growth
The primary benefit of LPO financing is that it enables businesses to plan business growth without worrying about funds and resources. WIth flexible tenures and customizable repayment options, LPO financing is an extremely useful business loan for small businesses. So, plan for your business expansion with MyX3 wherein you receive access to secure cash flow for smooth order supplies and payments.
MyX3: Trusted Loan Platform for Small Businesses in Nigeria
MyX3 is the online loan provider that caters to the needs of businesses, contractors, vendors, and individuals. We provide LPO financing services tailored to help small and medium businesses to fulfill their contractual works timely and efficiently.
The process to access LPO financing at MyX3 involves 5 easy steps as follows-
We facilitate LPO funds from 50,000 to 50,000,000 Naira for a loan tenure of 1 month to 15 months.
