Preparing Brightleaf Studio Capital Passport Demo…
DEMOInvestor Preview — Brightleaf Studio Capital Passport
Capital Passport
Investor-preview — Brightleaf Studio
Passport no.
VS-NG-26-094831
Issued
14 Oct 2026
Valid until
14 Jan 2027
Tier
Capital Ready
Risk band
Moderate
Brightleaf Studio
Passport No. VS-NG-26-094831
Capital Ready Pharmacy & Drug Retail — Lagos
820of 1,000
Funding readiness score
820 / 1,000
Based on 4 verified dimensions
Data verified by
Verifiable Source
Status
Verified Passport
Industry
Pharmacy Retail
Executive assessment
Brightleaf Studio presents a verified pharmacy retail identity with consistent high-volume dispensing revenue and strong supplier payment history. Banking activity across two active accounts confirms continuous trading for 6+ years. The available evidence is sufficient to support funding discovery and an initial credit assessment. Moderate risk remains due to thin 38-day cash reserves, a single primary supplier concentration, and FIRS Tax Clearance renewal currently in progress.
Risk level: MODERATE
Cash reserve runway sits at 38 days — below the 60-day benchmark. Primary supplier (PharmaDist NG) accounts for 61% of stock procurement; any supply disruption would directly impact revenue.
Data confidence: High
Evidence is comprehensive, consistent and recent: 18 months of bank statements, CAC filing current, BVN/NIN matched, NAFDAC licence verified, and POS/inventory data cross-referenced — supporting a high level of confidence.
Capital to pre-finance bulk drug procurement ahead of Q1 2027 peak dispensing season, bridge 45-day insurance-reimbursement cycles from HMO counterparties, and fund a second retail outlet fit-out in Yaba.
Thin cash reserves: 38-day Opex runway is below the 60-day lender benchmark; seasonal February dip could compress this further. Recommend a minimum liquidity covenant of N4M.
Supplier concentration: PharmaDist NG supplies 61% of stock value. Any supplier credit-hold or logistics disruption directly curtails dispensing capacity within 7-10 days.
HMO reimbursement lag: Three HMO panels (AIICO, Reliance, Hygeia) run 45-60 day settlement cycles, creating recurring receivables gap. Verify HMO creditworthiness and claims history.
Tax evidence: FIRS Tax Clearance renewal in progress for 2026 cycle; current TCC expired Sep 2026. Resolution expected within 30 days - monitor before drawdown.
Limited history (second branch): Proposed Yaba outlet is pre-revenue. Lenders should size the facility so repayment capacity rests entirely on the existing Surulere store verified cash flow.
9. What is still missing?
GAP ANALYSIS
Audited FY2025 Accounts: Management accounts verified; ICAN-audited financial statements not yet submitted. Required for facilities above N25M and for any bank guarantee issuance.
Updated FIRS TCC (2026): Completing TCC renewal unlocks Full Passport tier and Low-Risk badge, potentially reducing applicable interest rate by 1.5-2.5 pp.
HMO contract copies: Verified panel membership confirmed; physical SLA agreements with claim-volume annexures needed to fully underwrite receivables-backed financing.
Fixed-asset register: Required only if the business seeks asset-backed collateral or equipment financing for the Yaba branch pharmacy fit-out.
Impact: Completing items 1-3 above advances the passport rating from Capital Ready (Tier 3) to Full Passport (Tier 4), unlocking a wider lender pool and lower pricing.
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DEMO DOCUMENT — FOR INVESTOR PREVIEW ONLY. The VeriScore Capital Passport supports business assessment and verification. It is not a credit-bureau rating and does not constitute an offer, approval or guarantee of funding, investment, procurement eligibility or contract award. Recipients should verify the live status and complete their own due diligence before making a decision.
