The facility is available to bank customers to finance working capital.

 A Maximum of 12 months is allowed for repayment. This period is renewable upon application and approval.

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.