A working capital loan is used to finance a company’s short-term operational needs; they are not used to purchase long-term assets or investments. Companies with high seasonality or cyclical sales may utilize working capital loans to help with periods of reduced business activity.
- Interest Rate: 9.00% – 14.00% computed on a reducing balance
Application Requirements for Companies
Valid National Identification Card or Passport or Driver’s License of all Directors
TIN Certificate of Company
Certificate of Incorporation
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 of the Bank)
Application Requirements for Trading As
Valid National Identification Card or Passport or Driver’s License of Owner(s)
TIN Certificate of Owner(s)
Business Registration
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 of the Bank)
View related fees here: www.citizensbankgy.com/about-us/fee-structure/
