SME LOAN
SME Loan is a short-term loan that is specifically designed for small and medium-sized enterprises (SMEs), individuals, or companies to support their business activities.
FEATURES
- Monthly repayment
- Highly competitive interest rate
- Quick access to facility
- Maximum tenor of 12 months
ELIGIBILITY
- Borrower must have an account with the bank
- Borrower must be a business owner with regular income
- Borrower must be between the age of 18 and 65 years
- Business must be in existence for a minimum of 1 year
REQUIREMENTS
- Duly completed loan application form
- Provision of a valid means of identification of the borrower and guarantors
- Recent utility bill not more than 6 months
- Two recent passport photographs of borrower and guarantors
- Six months bank account statement up to application date of the borrower and guarantors
- 10% equity contribution
- Two eligible guarantors
- Two duly signed cheque leaves of the borrower and guarantors
- Adequate collateral
- MEMART, Certificate of Incorporation and Board Resolution (for corporate borrowers)
