Frequenty Asked Questions (FAQs)

Local Suppliers and Exporters in Nigeria with confirmed invoices, who are registered with the Corporate Affairs Commission and NEPC.

Local Invoice Discounting

  • Sales Contract
  • Invoice
  • Bank statements for the last 12-24 months.

Export Invoice Discounting

  • Bill of Lading
  • Commercial Export Invoice
  • Packing List
  • Quality Documents
  • Export Invoice and Sales Contract clearly showing payment terms
  • Bank statements for the last 12-24 months.

Invoice Discounting enables businesses receive early payment on a portion of their invoices before the buyer makes payment later. The expected payment date is determined by the payment terms in the contract between the buyer and supplier.

Local Suppliers and Exporters in Nigeria are faced with the challenge of scarce working capital to execute more transactions while awaiting payment on pending invoices.

As a result of the working capital gap, businesses are restrained to just a handful of transactions annually. With access to short-term working capital which is provided by ExinVersa’s products, businesses can get access to funds to execute more transactions, thereby keeping their supply chains active.

The average tenor for loans is between 30 – 60 days.

Most funding decisions are made within 24 hours.

Yes. Exin Versa’s platform allows you repay a loan before the maturity date. The option to make an early payment can be found on the “My Loans” page.

By linking your account to Exin Versa, we can review your statement of account and conduct KYC using information available with your bank.

Exin Versa does not store the login credentials of users when they link their accounts. Exin Versa also cannot transfer funds from your account.

Yes, users can extend their loans for between 7 to 28 days if there is a delay in payment from the buyer.

No, there are no additional fees or charges for loan extension. The normal interest rate will apply during the loan extension period.

Exin Versa lends to registered businesses in Nigeria, therefore we require the details of the directors for them to confirm that the decision to apply for a loan from Exin Versa was a collective business decision.

Customers have the option to extend their loans if there is a delay in receiving payment from the buyer.

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