[vc_row disable_element=”yes”][vc_column][vc_column_text]A Commercial Loan is a debt based funding arrangement that a business can set up with the Bank. The proceeds of a Commercial Loan are generally used to fund large Capital Expenditures and operations that a business may otherwise be unable to afford. Commercial loans are generally repaid within a short term. However, a maximum of ten years is available based on qualifying factors.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]
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Application Requirements for Companies
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- 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)
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- 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)
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Requirements for Trading As
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- 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)
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- 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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