Promissory Note Discounting
Promissory Note Discounting is Post-Shipment Financing meant to bridge the gap from delivery of goods or services to actual receipt of payment. A reputable offtaker issues a Promissory Note (a promise to pay the bearer a certain amount of money on a future date) for goods supplied.
- Company Profile
- Proposed security: Shareholder / Director’s guarantees / Title Deeds
- 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 on Corporate Letterhead stating the nature/type and amount of facilities being sought.
- Tax Clearance Certificate (Current)
- Confirmed Order (from a Reputable Offtaker)
- 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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