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Term Loan

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

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National Identification Card, Valid Passport or Valid Driver’s License of all Directors

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TIN Certificate of Company

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Certificate of Incorporation or Business Registration

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Memorandum of Association or Articles of Association

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Annual Return (Previous two years)

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Audited Financial Statements (Previous three years)

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Business Plan / Application indicating purpose of financing

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Bank Statement from Current Bank (Minimum one year)

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Copy of Transport / Title of property offered as collateral

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Valuation of Property (To be done by an approved valuator by the Bank)

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