Fulfil your large orders with our short term commercial finance option that provides funding to pay your suppliers upfront for verified purchase orders.
Features
- An all-inclusive flat interest rate of 7% (include all charges for LC arrangement).
- Loan exceeding 30 days: commission between 3.5% - 4% per month.
- Compulsory insurance cover of min. 110% for goods in transit: 0.225%.
- Security: Deed of cession by the issuer of Order.
- Conditions: Should open and maintain an active Business transaction account with BancABC.
- Up to 100% finance, Finance of all import costs.
- Secure import of goods with LC arrangement.
- Protection of goods while under transport.
- Interest charged is all inclusive.
- Bank interest charge financed - no payment upfront.
- No financial statement requirements.
- Dedicated Relationship Manager to offer advisory services.
Requirements
- A copy of Memorandum & Articles of Association or the constitution as necessary.
- Certificate of incorporation (Form 4).
- List of directors (Form 2).
- Confirmation of trading addresses (Form 5).
- Return of shares allotment (Form 4 or Form 2C).
- Share certificates (Form 8).
- Resolution of meeting confirming authorized signatories, and signing arrangements and amount requested.
- Certified copies of Identities for citizens and passports for non-citizens company directors and authorized signatories.
- Work permits and residence permits for non-citizen directors and authorized signatories.
- Proof of physical address of the company (any utility bill bearing physical address that is less than 3 months old).
- Proof of residential addresses for the directors and authorized signatories (Not older than 3 months).
- Asset Finance Application form.
- Cash Flow Projections for 1 year.
- Personal Balance Sheets for directors.
- Copy of the Purchase Order.
- Quotations from Supplier/s.
For more information to help us to assist you, please contact your Relationship Manager or email us at corporate@bancabc.com.
