We finance our customers with loans for working capital, to acquire capital assets, property, for buying plots and construction.  Repayment period is 1 to 3 years maximum for working capital loans and up to 4 years  for acquiring capital assets.


REQUIREMENTS

•    Business Loans Application form duly completed.
•    PIN Certificate of the applicant.
•    ID copies and PIN certificates of the directors.
•    Director’s resolution to borrow.
•    Audited financial accounts for the last three years
•    Business latest management accounts with current aged debtors and creditors.
•    Copies of the security documents e.g. title deed, logbook etc.
•    Copy of the valuation report, if available.
•    Copy of the letter(s) of offer and certified loan account statements from other institutions, if enjoying other facilities.
•    Bank statements for the last six months, if banking elsewhere.
•    Sketch map of physical location of the business premises.
•    Cash flow projections for next 12 months.
•    Copy of the business registration certificate (business names).
•    Copy of the certificate of incorporation (limited companies).
•    Copy of the memorandum and articles of association (limited companies).
•    Latest returns to the registrar of companies.

Additional requirements for Construction loans

•    Documented cost estimates of the project or break down of the utilization.
•    Development plans/drawings duly approved by the local authority.
•    Customer to demonstrate ability to raise own contribution of 25% of the development cost.
•    Details of the experts engaged in the construction.