LeadNowNow is a hassle-free short term loan on offer to existing stock broking clients of LeadCapital. It provides an opportunity to borrow against stock portfolios. With LeadNowNow, successful applicants gain access to cash just 48 hours after they have submitted all the required documents. LNN is available for an initial two months with an optional one month roll over.
Contact your dedicated Relationship Manager to make an application and for a list of approved stocks.
Frequently Asked Questions
- How much will the loan cost me?
LNN is on offer at 32% per annum with an additional 3% processing and management fee.
- What are the requirements?
Once a favourable credit assessment has been carried out, an offer letter requiring you to visit our office to append your signature will be prepared within 48 hours. Alternative arrangements are made for applicants who are resident outside Port Harcourt, Victoria Island, Ibadan and Abuja. Our relationship managers are available to provide more information.
- When will I hear about the status of my application?
Lead will contact you by telephone or email within 48 hours of receiving your completed application through your Relationship Manager.
- How do I receive the cash?
Following the approval of your application, you will receive a cheque for the approved amount minus the 3% processing and management fee.
- How do I repay my LNN loan?
You are expected to repay your loan by one of these methods:
- In full on the stated maturity date
- In installments over a 3-month period
- By selling your shares to meet your monthly obligation to us. The amount of each LNN monthly repayment will be calculated at 32 % per annum.
- Can I be certain that the amount Lead will deduct from my account is the agreed amount?
LeadCapital Plc and its subsidiaries maintain high ethical standards in all our dealings. As stockbrokers, we are committed to complying fully with the laws, regulations and ethical principles that regulate our practice. As a LNN client, all parties sign a legally binding contract which protects you, our client. Lead will never deduct any monies from a client’s account other than those agreed.
- How does LeadCapital calculate the value of my loan?
The total amount on offer to you is generally no more than 50% of your portfolio valued at current price.
- Can I repay my loan before the maturity date?
Yes, you can repay your loan anytime before its maturity date. This may be done by either sending LeadCapital a cheque for the total sum due or by instructing us to sell shares in your portfolio of a value equal to the total sum borrowed. Note that there is an additional 3% processing & management fee to roll over the facility after the initial 3-month period.