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Asset Finance

A facility aimed at supporting a customer to acquire assets to support businesses growth. The customer must be ready to finance part of the transaction and the asset financed must be related to the business. 

Features

•Financing of up to 70% of asset value

•Tenor – 4 years

Requirements

•3-years audited financial statements, 12-months bank statements for business account and confirmation of income from the Auditor.

•Certified copy of MEMARTS in case of companies’ owners / directors

•Certified copy a Certificate of Incorporation for companies’ owners / directors

•Certified copy of a Certificate of Reg. & Extract from Registrar – incase of registered business / partnership

•Completion of medical questionnaires (Life Cover Mandatory)

in case of registered business / partnership

•Completion of medical questionnaires (Life Cover Mandatory)

•Evidence of minimum of 30% commitment for purchase of asset

•Proforma invoice and/or valuation report

•All shipping documents to be consigned directly to the bank

•Assets registration documents to be retained by the bank

•Proof of reasonable demand for the goods/established operation

•Additional documents and information may be required if deemed necessary

• Collateral – legal mortgage/debenture, asset that is being financed

Benefits

•Enables customer to acquire assets when required

•Easy flexible installment payments and flexible payment periods

•Enables customer to use the assets to generate cash flow for purchases

•Enables a customer to improve the customers’ business and increase productivity.

 

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