Overdrafts

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

Every enterprise is unique. Understanding your business cycle is the cornerstone of a healthy banking relationship. We shall go the extra mile to help you plan your financing requirements.

Adequate cash, available when you need it to procure raw materials or for meeting operational overheads.

  • 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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