Invoice/ Bills Discounting

• Amount advanced to be up to 80% of the value of the bill
• A maximum period of 90 days to be permitted
• Repayment on maturity of trade bills
• Invoice discounting allows a business to draw money against its sales invoices before the customer (reputable company)
  has actually paid to meet working capital requirements.

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