tiktok³ÉÈË°æ

The Lender Approval Letter is a crucial document in the Nigerian lending landscape, typically issued following a successful loan application and credit assessment process. It represents the financial institution's formal commitment to provide financing, subject to specified conditions. This document is required by Nigerian banking regulations and serves multiple purposes: it confirms the lender's intention to provide the facility, documents the key commercial terms agreed upon, and sets out the conditions that must be satisfied before the loan can be disbursed. The letter includes essential information such as facility amount, purpose, interest rate, tenure, security requirements, and conditions precedent, all structured in compliance with Nigerian banking laws and Central Bank of Nigeria guidelines.

1. Letterhead and Date: Bank's official letterhead with full contact details and date of issuance

2. Recipient Details: Full name and address of the borrower/recipient

3. Reference Line: Application reference number and subject line clearly stating 'Loan Approval'

4. Approval Declaration: Clear statement confirming the approval of the loan application

5. Facility Details: Specific details of the approved loan including amount, purpose, and type of facility

6. Key Terms: Essential terms including interest rate, tenure, and repayment schedule

7. Security Requirements: Details of any collateral or security required for the loan

8. Conditions Precedent: List of conditions that must be met before loan disbursement

9. Next Steps: Clear instructions on what the borrower needs to do to proceed

10. Validity Period: Time period for which the approval remains valid

11. Closing: Standard closing, authorized signatory details, and bank's official stamp