Working Capital Loan

Our Working Capital Loan is a credit facility granted to a business entity to help meet its immediate cash needs. The loan is repaid in instalments over between 3 and 24 months, and sometimes longer. This type of loan gives you the funds your business needs to keep growing until you can cover all operating expenses out of your revenue.

What does it offer me?

 

  • The amount of the loan you can apply for depends on your business’ confirmed projected cash flow
  • It works on a fluctuating interest rate, which is linked to our base rate
  • You can agree to a weekly, monthly, bi-annual or annual repayment plan that is in line with your cash flow.

 

What do I need to apply?

This product is available to all our Business clients with an existing transactional account.

 

Documents required

Basic Loan application: You need you to give us the following documents to enable our credit department to make an informed decision.

  • Your business’ financial statements
  • Personal statements of assets and liabilities of all the partners, members or directors
  • Your sales and purchases budgets
  • Projected income and expenditure statement
  • A 12-month cash flow forecast
  • The amount of your own contribution, and the source of the funds
  • Schedule of debtors and creditors
  • If you do not have a business account with us, you must give us you past three months’ bank statements.

 

This is not a full list. Depending on the nature of the application and the business risk involved, you may need to give us fewer or more documents.

For more information on the documents we need, please call the Head of Business Banking Department on 229071.


 
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