Overdraft

An overdraft is the ideal way to manage your cash flow. It is a fluctuating ‘loan ‘facility linked to a Business Current account.

Key Features and Benefits

  • Flexibility on use of funds – cash available when you need it
  • Interest is paid only on the utilized portion of the overdraft
  • Interest accrues daily on outstanding amount and payable at the end of the month
  • Facility is available for use of 12 months and renewable subject to good performance

Requirements

  • Business Registration documents
  • Bank statements from other banks
  •  Financial statement and cash flows
  • Accepted collateral includes but not limited to: Tittle Deed Property, Cash or Investments ( Treasury Bills) and Bank Guarantee from a reputable bank
  • Favorable Credit Bureau report
  • Other requirements / documents may be requested subject to specific borrower conditions

 
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