Business Term Loans
A Business Term Loan supports your business in achieving its long-term financial goals. To make repayments suitable for your business, monthly instalments are matched to your business’ cash flow. The term of your loan can be structured for between 3 and 5 years.
What does it offer me?
- A Business Term Loan may be used to buy or upgrade fixed property, finance fixed assets, capital expenditure or for the set-up of venture costs
- Your repayments can be tailored to suit your business’ cash flow projections
- Competitive interest rates are offered and may be variable or fixed for the term of your loan
- A term loan may not be used for the consolidation of debt or as a substitute for vehicle and asset finance.
What do I need to apply?
Who can apply
Business clients with an existing transactional account with us.
You need 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
- A 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 your 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 contact the Head of Business Banking Department on 229071.