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)

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View related fees here: www.citizensbankgy.com/about-us/fee-structure/