Loans & Advances
Flexible Financing Solutions to Power Your Business Growth
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Loans & Advances
Whether you need a business overdraft, working capital financing, or funding for local purchase orders, we provide a wide range of loan and advance solutions designed to support your operations, expand your capacity, and keep your business running smoothly. Our financing solutions are tailored to meet the unique needs of SMEs and entrepreneurs across all sectors.
Business Loans
Our Business Loan offers small to medium-sized businesses access to funding for various operational needs. This loan can be used for purchasing equipment, expanding operations, or covering working capital requirements. With more flexible approval criteria, business loans are ideal for supporting short-term to medium-term growth and maintaining smooth business operations.
To apply for a Business Loan, the following terms and conditions apply:
- Formal request letter
- Guarantor information
- Acceptable collateral
To apply for a Business Loan, the following terms and conditions apply:
- Repayment Structure: Fixed monthly installments over an agreed loan period
- Competitive Interest Rates: Attractive and market-aligned rates to ensure affordability
Business Overdrafts
Our Business Overdraft offers small to medium-sized businesses a quick way to manage cash flow shortfalls. It provides access to additional funds up to a certain limit, typically based on monthly revenue or account activity. This flexible solution is great for covering short-term expenses like payroll, inventory, or supplier payments. Business overdrafts can generally be used for up to one year, making them ideal for bridging cash flow gaps between incoming payments.
- Application Letter stating:
- Amount requested
- Purpose
- Desired duration (3, 6, 9, or 12 months)
- Board Resolution to Borrow (for Limited Liability Companies)
- Defined repayment source and schedule
- Perfected tangible collateral
To apply for a Business Overdraft, please provide:
- Clear purpose of the facility
- Company profile
- Management team profile
- Copy of TIN Certificate
- Cash flow projections covering the repayment period
- Audited Financial Statements
- Business or Project Plan
- Market information outlining: Key suppliers, Main clients, Product lines, Competitors
- Interest is charged only on the amount overdrawn, ensuring cost efficiency
- Management and processing fees of up to 2%, payable upfront
Local Purchase Order (LPO) Financing
Local Purchase Order financing provides short-term working capital to contractors and vendors supplying reputable organizations. This facility enables businesses to execute confirmed orders efficiently — without delays caused by cash constraints.
To apply for LPO Financing, please submit:
- Application Letter
- Board Resolution to Borrow (for Limited Liability Companies)
- Copy of the Local Purchase Order (LPO)
- Order Confirmation Letter
- Payment Domiciliation Letter
- Security documents
- Guarantee forms
- Enhanced Capacity – Execute orders promptly without being limited by immediate cash flow
- Working Capital Access – Funds provided specifically to support order fulfillment
- Improved Liquidity – Strengthen your business’s ability to take on more projects and larger orders
Working Capital Finance
Our Working Capital Finance Facility is designed to support the day-to-day operational needs of businesses. It provides short-term funding to help manage inventory, production, payroll, and other essential expenses — ensuring uninterrupted business operations and improved cash flow stability.
Please provide the following documentation when applying:
- Client’s Application Letter
- Board Resolution to Borrow (for Limited Liability Companies)
- Memorandum & Articles of Association or Articles of Partnership
- Security documents, which may include:
- Land Certificates
- Title Deeds
- Certificate of Ownership
- Vehicle Insurance
- Stock Hypothecation
- Company’s Annual Accounts and Reports
- Three years of audited financial statements
- Projected cash flows showing ability to service the facility
- Tangible collateral, such as landed property
- A guarantor who is an existing customer of the bank
Cheque Discounting
Our Cheque Discounting Facility offers customers immediate access to cash against post-dated cheques. This short-term advance helps bridge cash flow gaps by allowing you to receive funds before the cheque’s maturity date.
To access the Cheque Discounting service, you must have:
- A functional and active account with the bank
- Early Access to Funds – Receive the value of your post-dated cheque ahead of the clearing date
- Competitive Interest Rates – Interest is applied only on the discounted (withdrawn) amount
- Risk Coverage – In the event the cheque is dishonoured on the clearing date, the full cheque value will be debited
- Customer Indemnity Required – The customer must sign an indemnity form for the discounted cheque
