A term loan is a credit facility that is repaid in fixed payments over a set period. Term loans usually last between one and ten years.
- Interest Rate: 9.00% – 14.00% computed on a reducing balance
Application Requirements
National Identification Card, Valid Passport or Valid Driver’s License of all Directors
TIN Certificate of Company
Certificate of Incorporation or Business Registration
Memorandum of Association or Articles of Association
Annual Return (Previous two years)
Audited Financial Statements (Previous three years)
Business Plan / Application indicating purpose of financing
Bank Statement from Current Bank (Minimum one year)
Copy of Transport / Title of property offered as collateral
Valuation of Property (To be done by an approved valuator by the Bank)
View related fees here: www.citizensbankgy.com/about-us/fee-structure/
