This is a Trading loan facility targeted at account holders such as corporate bodies, and enterprises to support activities.
Eligibility Criteria
Group/Association/Corporate /Institutions
- Must be a customer of the bank
- Must have active viable business /Form
- Must have registered with the appropriate Authorities. (eg District Assemble, Registrar General Department, etc)
Documentation
The under listed basic information shall be placed on the credit file of every beneficiary of the bank’s Trading/Commercial Loan
- Application letter(printed)
- Resolution duly signed by the concerned persons (in the case of groups /associations / corporate loans)
- Guarantor’s form duly signed by both the guarantor and the applicant
- A valid national ID &Tin certificate (Passport/ Driver’s license/Voter’s ID/NIA card/SSNIT card) of both the applicant and guarantor
- An offer and acceptance letter (letter of Notification )
Duration of Loan
- Trending /Commercial Loan maximum duration not exceed 10 months
- Commercial Loan maximum duration not exceeding 24 months
Security/Collateral
- Cash lien of not less than 10% of the amount requested and 2 personal guarantors.
- Building with proper documents
- Vehicles (original document be deposited at the bank during the Facility period )
- And any other security that may be deemed fit