Contract Financing

This is a credit facility to a supplier to enable them meet a supply order that they have from a known buyer.

This is a credit facility to a supplier to enable them meet a supply order that they have from a known buyer.

The facilities include advances, guarantees and letters of credit, as the situation may demand. The bank will deal with suppliers who meet certain performance criteria and buyers who meet accepted risk profile.

  • Advance of up to 70% financing of the contract value.
  • Repayment period dependent on contract timelines.
  • The major benefit of this service is that it enables suppliers fulfill their orders without provision of security.
  • Formal Application stating the amount, purpose, tenor, source of repayment and proposed security.
  • Audited accounts for at least three financial years, prepared by a Certified Public Accountant, with an unqualified opinion.
  • Management Accounts for the most recent concluded month.
  • Projected Cash flows for the period of financing.
  • Valuation report for the property/ assets to be pledged as collateral.
  • Business Plan/ Updated Company/ Business profile.
  • Financial Card Number for the borrowing entity.
  • Any other information as may be requested by the Bank, depending on the nature of the request.
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