A Commercial Loan is a type of short term or long-term loan that is used by companies to fulfill their financial requirements. The proceeds of a Commercial Loan are generally used to fund capital expenditures and operations. Commercial loans are generally repaid within a short term. However, a maximum of ten years is available based on qualifying factors.

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)

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)