Purpose: To finance the upfront procurement of equipment under the DART Program by eligible companies.
Tenor: 24 months; 6-month moratorium on interest and principal repayment
Currency: Available in US Dollars (USD), with Naira repayment option
Interest: Indicative rate of interest: 9% (USD); 13% (₦)
Repayment: Quarterly payment of interest and principal (after moratorium period)
Security: The security structure may include a combination of any of the following:
- Lien on equipment financed
- Comprehensive insurance over equipment financed noting All On as the “first loss payee” until full liquidation of facility
- Charge/Lien on designated accounts into which grant, and project proceeds will be paid
- Charge on other assets, e.g., receivables
- Joint Signatory on account into which grant, and project proceeds will be paid.
- Irrevocable Standing Payment Order
- A dedicated debt service reserve account into which periodic remittances shall be made to build up funds towards repayment
- Personal guarantee of project sponsors.
- Corporate guarantee of parent or related company.
*The final terms and security structure will be at the discretion of All On