Requirements — SME Loans
Targeted and suitable to every sector of the economy for purposes of funding any procurement of goods or services required by the business.
Minimum: E10 000
Maximum: E1.5 million
Repayment Period: 3 – 5 years
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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