A facility aimed at supporting a customer to acquire asset to support businesses growth. The customer must be ready to finance part of the transaction and the asset financed must ne related to the business.

Financing of up to 70% of asset value
Tenor – 4 year
- 3 –years audited financial statements, 12 – bank statements for business account and confirmation of income from the Auditor.
- Certified copy of MEMARTS in case of companies` owners /director
- Certified copy of Certificate of Incorporation for company’s owners/directors.
- Certified copy of certificate of Reg & Extract from Registrar – in case of registered business / partnership.
- Completion of medical questionnaires (Life Cover Mandatory).
- Evidence of minimum of 30% commitment for purchase of asset.
- Proforma invoice and/or valuation report.
- All shipping document to be consigned directly to the bank.
- Assets registration documents to be retained by the bank.
- Proof of reasonable demands for the goods/established operation.
- Addition documents and information may be required if deemed necessary.
- Collateral – legal mortgage/debenture, asset that is being financed.
- Enables customer to acquire assets when required.
- Easy flexible installment payments and flexible payment periods.
- Enables customers to use the assets to generate cash flow for purchases.
- Enables a customer to improve the customers` business and increase productivity.
- Signed Loan Application Letter.
- Signed Loan Resolution to Borrow.
- Audited Financial Statements of Application and Its Related entities at list for the past two years.
- Draft/Management Accounts the respect year.
- Bank Statement of perspective year with Bank of Africa or other Banks.
- Details of Present banking relationship of the client i.e. facilities secured, securities, ledged, tenor of the facilities etc. if any.
- Monthly Cash flow statements for the entire credit period.
- Debtors/Creditors aging Analysis.
- Recent Annual return filed with the registrar of Companies.
- Invoice for the asset required.
- CVs of the key personnel of the company.
- Memorandum of articles of association.
- Certificate of incorporation /Extract from registrar/Certificate of Reg.
- Business License and Tax clearance Certificate.
- Any insurance cover policy or receipts.