This facility is targeted at individuals and businesses that intend to purchase vehicles. The maximum tenor for a loan to purchase a pre-owned vehicle is 36 months while the maximum loan tenor to purchase a brand new vehicle is 60 months.
- Copy of the vehicle registration book
- Proposed security: Vehicle being financed & Guarantee from the Borrower’s employer.
- Statement of net worth for the directors (estimated values for Personal Assets and Liabilities.)
- Bank Statements for the recent past 6 months.
- Facility Application letter stating the nature/type and amount of facilities being sought.
- Garage report for the vehicle being purchased (from a reputable Garage e.g. Mike Harris)
- Comprehensive Insurance policy – noting the interests of GetBucks Microfinance Bank as first loss payee
- (to be submitted soon after the vehicle has been purchased).
- Schedule of Information (Annexure 1)
- 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).
- Tax Clearance Certificate (Current)
- Aged Analysis of Creditors & Debtors
- Letter of Undertaking from Offtaker to route proceeds through GetBucks.
- 20% Deposit / Contribution towards purchase price of the Asset
- Quotation / Invoice with banking details of reputable supplier / seller
- Latest Management Accounts
- Directors and Management Profiles
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