Short term loan allowing the client to continiously withdraw money up to the limit.
- Repayment depends on the business cycle (monthly, quarterly, etc...).
- Interest rate is 18-21% declining.
- Repayment term up to 5 Years.
- 20% of customer contribution.
- Overcome liquidity shortage.
- Interests are only paid monthly in case the credit line was used.
- Turnaround time of 7 - 14 days.
- Attractive interest rate.
- Working capital requirements.
- Finance capital expenditures.
- Upcoming tax payments.
- Application letter.
- Project description (customer needs statement).
- Financial statement.
- Company Registration Certificate/ID copy of the applicant and his guarantor.
- Legal status certificate.
- RRA Tax Clearance Certificate.
- Valuation report of the collateral (done by a valuer which has a partnership with UNGUKA Bank Ltd).
- Collateral title documents.
- Fire insurance.
- Notified Board resolution for companies - Bank statements for the last 6 months (if account held with another financial institution).