Collateral Based Finance
Collateral Based Finance enables customers to unlock value of their assets. The facility enables a borrower to access financing on the back of their immovable property. The customer can access up to 50% of the market value of the property. However, the borrower must have a verifiable source of repayment which the Bank can ring-fence. The facility is applicable to customers that have lucrative business transactions which might not fit into any of the current transaction based facilities being offered by the Bank.
- Company Profile
- Proposed security: Shareholder / Director’s guarantees / Title Deeds / Credit Insurance
- Statement of net worth for the directors (estimated values for Personal Assets and Liabilities.)
- Company Resolution to borrow (authorizing nominated company directors to borrow on behalf of the company).)
- Memorandum & Articles of Association (copy).
- Certificate of Incorporation and or Business Operating License (copy).
- Bank Statements for the recent past 6 months.
- Facility Application letter stating the nature/type and amount of facilities being sought.
- Confirmed Contract (with consistent receivables)
- Tax Clearance Certificate (Current)
- Aged Analysis of Creditors & Debtors
- Letter of Undertaking from Offtaker to route proceeds through GetBucks.
- Latest Management Accounts
- 3 Year Annual Financial Statements
- 12 months Cash flow projection
- Directors and Management Profiles
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