Asset Financing

These loans are advanced to individuals/corporates and salaried employees with good business background and repayment capacity for either purchase of motor vehicles or machines.
Maximum repayment period is 48 months

Asset Financing

Full Requirements

  • Business Loans Application Form duly completed.

  • PIN Certificate of the applicant.

  • ID copies and PIN certificates of the directors.

  • Director’s resolution to borrow.

  • Audited financial accounts for the last three years

  • Business latest management accounts with current aged debtors and creditors.

  • Copies of the security documents e.g. title deed, logbook etc.

  • Copy of the valuation report, if available.

  • Copy of the letter(s) of offer and certified loan account statements from other institutions, if enjoying other facilities.

  • Bank statements for the last six months, if banking elsewhere.

  • Sketch map of physical location of the business premises.

  • Cash flow projections for next 12 months.

  • Copy of the business registration certificate (business names).

  • Copy of the certificate of incorporation (limited companies).

  • Copy of the memorandum and articles of association (limited companies).

  • Latest returns to the registrar of companies.

  • Details of Securities offered

Requirements

  • Valid identity document (Passport/ National Identity Card)
  • Passport size photographs