CenteSME/Corporate Business Loans
Product Features
- Maximum loan amount of up to UShs. 20 billion.
- Maximum loan period of up to 10 years; minimum flexible.
- Interest rate charged on reducing balance.
- Repayment frequency/ pattern agreed with each customer
- Grace periods of up to Twelve (12) months applicable on a case-by-case basis.
Benefits
- Faster and easy way to access business funds.
- Attractive interest rates.
- Flexible repayment plans.
- Multiple disbursements can be made.
- Access to automatic loans.
Requirements
- Application and Supportive documents.
- Current or Savings Bank account.
- Completed loan application form.
- Payment of loan processing fees.
- National ID.
- Certificate of registration/incorporation.
- Memorandum and Articles of Association or Partnership Deed.
- Company profile.
- Registered borrowing resolution.
- Financial statements for at least the last 3 years (Balance Sheet, Profit and Loss Accounts) audited by a registered and practicing CPA
- Projected cash flow statement.
- Statement of Assets and liabilities dated within 3 months of application date.
- Copy of Title Deed or other asset(s) being offered as security
- Copy of valuation report (dated within 4 years of application date), done by the bank’s approved valuers
- Curriculum Vitae of the proprietor/Partners/Directors/Guarantors.
- Bank Statements for the last 12 months.
- Approved plans and bills of quantities for construction projects where applicable
- Valid license for the business being undertaken.
- Authority to borrow granted by relevant Ministry in case of financing Government, institutions or schools.
- Pro-forma invoices for purchase of machinery/equipment or vehicles.
- Site visit reports for the business premises and properties being offered as security (with pictures).
- Local Purchase Orders.