Requirements — Working Capital
This product is meant for clients requiring funding for operational costs in the short term. It enables the business its operations whilst focusing on the core businesses and any expansion that maybe taking place at the time.
Minimum: E10 000
Maximum: E500 000
Repayment Period: up to 12 months
Interest: Prime + Risk
Security: should be able cover 100% of the total debt
Promoter’s Contribution: a minimum of 20% of the total project total cost
- Memorandum of association
- Certificate of incorporation
- Form J
- Form C
- Tax clearance certificate
- Trading license
- A business plan, an application letter, references and cash projections.
- A contract document, a purchase order and letter of intent
- A shareholder’s resolution to borrow
- A contractor’s confirmation of contract
- Company address, bankers (account number and branch), auditors and authorized signatories
- Copy of lease agreement
- Identity documents of shareholders and directors
- Passport sized photos
- Personal balance sheets of shareholders and directors
- CV’s of shareholders and directors
- Contact numbers and addresses of shareholders and directors
- Bank statement showing proof of 20% contribution
- Proof of first instalment to be paid in advance
- Application fee
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