Finance your Business
Financing / Loans
1 .Term Loans
Term loans enable customers to raise finance from the bank repayable in regular instalments over a set period of time. This product supports customers by letting them rely on the bank for large capital outlays which are amortized by affordable repayments over a fixed term.
2. (Temporary) Overdrafts
This product enables customers to bridge short term cash flow gaps resulting from recurrent expenditures. Customers may make withdrawals in excess of their credit balances subject to an approved maximum debit balance over a fixed period.
The product is to allow temporary overdraft facilities to be granted to the target market against proven account activity. The product will enable them meet temporary shortfalls in working capital requirements in the form of temporary overdrafts which will be available for a maximum term of 30 days.
Asset Finance products provide support to customers in the acquisition of fixed assets. Customers are advanced funds to acquire assets upon the provision of a security interest in the asset to be financed over a fixed term.
4. Invoice Discounting
This facility releases liquidity to customers by allowing them to draw against sales invoices before payment is received. The customer receives a discounted value of the transaction while the face value is paid to the Bank on maturity thereby improving the customer's working capital and cash flow positions.
5. Drawing Against Uncleared Effects
This product grants customers access to the proceeds of cheques deposited which have not completed the clearing cycle. The product grants customers an early release of liquidity for business expansion.
Cheque discounting facilities allow customers to encash postdated cheques
7.Cash Backed Facility
Cash backed facilities are advances granted against cash investments as collateral. The borrower can access liquidity without compromising the returns on deposits which continue to remain on the borrower's name.
8. Import Duty Finance
Import duty finance involves products specifically designed to provide liquidity to importers to enable them pay import duty and clearing charges on goods landed at the port. This facility enables importers to make prompt payments in order to avoid demurrage and other charges.