This is designed in response to our numerous customers’ empowerment policy on working capital credit facility.
Asset Financing Requirements
- These are term loans designed to suite the individual peculiarities of the Small and Medium Scale Enterprises who must have properly opened a corporate current account with us.
- The account must have been properly operated for at least 30 days before seeking for this facility.
- The customer must provide at least 20% Equity Contribution of the loan amount being requested.
- Two Third Party Individual Guarantee/Indemnifiers are required and supported by their personal post-dated cheques up-to 150% of loan amount.
- Please note that Company’s cheques are not required for individual lending from any guarantor who signed the Guarantee Form.
- Unsupported Guarantee Forms are not required. Credit facility request shall be declined if documentation is incomplete.
- Stocks of Goods are not required to secure an SME’s facility.
- Maximum tenor is 120 to 270 days only or as may be approved by executive management.
- Pricing is 4% interest rate per month excluding Management and processing fees.
- Corporate/Individual client must provide a cash flow report and statement of financial position to enable us assess the viability of the request.