We provide several products under the business loan portfolio
These are:
• Business Working Capital Loan. This provides short-term working capital.
• Business Revolving Credit Line. A medium-term, flexible, on-going facility. This may be used as and when needed
• Business Term Loan. A medium to long-term, period based loan offered for between 5 to 10 years. Amortized over the period of the loan, it’s tailor-made for capital expenditure, acquiring a business or embarking on a business programme, or for finance of fixed assets e.g. property, plant and machinery.
• Foreign Currency Loans. Available in USD for all NEXT STEP Business Loans – Business Working Capital Loan, Business Revolving Credit Line and Business Term Loan. The customer’s income has to be US Dollar based and enables customers to reduce currency risk between income and exposure to bank.
To qualify for the Business Working Capital Loan:
• The customer has to be operating a business transaction account with us
• Repayment from a known and confirmed source needs to be established.
• The customer/business must be legally empowered to borrow
• There should be a valid need for short-term working capital facility
• Accepted transactional and or loan account conduct for the past 6 months.
Repayment can be structured over 6 to 24 months with options of weekly, monthly, quarterly, bi-annual and annual re-payments.
Terms and conditions apply
To qualify for a Business Revolving Credit Line:
• The customer has to be operating a business transaction account with us
• The Revolving Credit Line is primarily based on customer capability and capacity to meet re-payments on a sustainable basis
• The customer/business must be legally empowered to borrow
• There should be a valid need for the facility
• Accepted transactional and or loan account conduct for the past 6 months
Repayments can be structured over 36 to 60 months to be made in equal monthly installments on an on-going basis. On re-draws the period of the loan is extended and the installments amount is maintained.
Terms and conditions apply
To qualify for a Business Revolving Credit Line:
• The customer has to be operating a business transaction account with us
• The Revolving Credit Line is primarily based on customer capability and capacity to meet re-payments on a sustainable basis
• The customer/business must be legally empowered to borrow
• There should be a valid need for the facility
• Accepted transactional and or loan account conduct for the past 6 months
Repayments can be structured over 36 to 60 months to be made in equal monthly installments on an on-going basis. On re-draws the period of the loan is extended and the installments amount is maintained.
Terms and conditions apply
