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/