Financing Rate: as per List of Bank charges
Tenure: 60 – 180 days per transaction
Facility renewed annually
Designed to support businesses to fulfill working capital requirement on obtaining stock, our trade financing facility will assist businesses to acquire goods from local and international suppliers.
60-180 days per transaction
Limitless re-utilisation of facility
The facility will be renewed annually
Multiple Payment Methods
Applicable for LC and TT
Covering letter detailing the requirement for financing
Duly filled and signed Application Form
Board Resolution authorizing the request for financing and stating the authorized signatories.
Profile of the the business and members of key management team.
Copy of Registration Certificate of the business entity.
Copy of Memorandum of Association and Articles of Association (copy of the partnership agreement if a partnership)
Company Profile sheet from Economic Ministry confirming company’s shareholders, directors and company secretary (not older than 10 days)
D card copies of Directors / Shareholders (if shareholders are registered companies, all documents from 6 to 11 is required)
Net worth statements of all Directors
Last three years' Audited Financial Statements.
Current year’s Management Accounts
Ageing reports of Trade receivables, Trade Payables, and Inventory (as per management accounts)
Income Statement Projections with detailed notes (for 1 year)
Monthly Cashflow Projections (should be prepared using direct method)
List of major customers and suppliers.
Details of all suppliers applicable under this facility (template attached).
Bank statements of last 06 months (other banks)
MIRA Tax Clearance Report (not older than 10 days)
Details of Collateral
Registry/ID card copy of owner(s)
No objection letter (to mortgage) from owner(s), in case of third-party mortgage
All documents should be properly stamped and signed. Additional documents may be required during evaluation process.