Documentary Credit
These loans are basically advanced for the purchase of assets & the client may choose to pay through either equated or non-equated installments to suit the individual requirements. Extended for financing specific transactions or projects
- Interest linked to the Bank’s Base Lending Rate or Foreign Currency Base Lending rate (for foreign currency), charged quarterly
- Available in Kenyan Shillings, US Dollars, GB Pounds and Euro
Full Requirements
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Business Loans Application Form duly completed.
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PIN Certificate of the applicant.
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ID copies and PIN certificates of the directors.
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Director’s resolution to borrow.
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Audited financial accounts for the last three years
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Business latest management accounts with current aged debtors and creditors.
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Copies of the security documents e.g. title deed, logbook etc.
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Copy of the valuation report, if available.
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Copy of the letter(s) of offer and certified loan account statements from other institutions, if enjoying other facilities.
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Bank statements for the last six months, if banking elsewhere.
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Sketch map of physical location of the business premises.
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Cash flow projections for next 12 months.
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Copy of the business registration certificate (business names).
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Copy of the certificate of incorporation (limited companies).
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Copy of the memorandum and articles of association (limited companies).
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Latest returns to the registrar of companies.
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Details of Securities offered
