SME Order Finance is a Credit product designed to support businesses with working capital to finance confirmed orders from reputable suppliers.
- Small and Medium Enterprises that are in the business of obtaining and executing orders/contracts.
- The customer is required to fulfill/submit the following:
- Must have executed similar contracts for not less than 6 months
- Must be actively banking with NBS Bank for at least 6months
- Must have a valid order/contract in writing and duly signed by the company
- Must assign the proceeds of the contract to their NBS Bank account
- Must submit an Irrevocable Letter of Undertaking to have the proceeds remitted to their NBS Bank account
- Must submit cash flow projections
- A minimum of MWK200, 000.00 and a maximum of MWK50, 000,000.00.
- The amount depends on the size of the order, working capital requirements and the security pledged but not exceeding the Bank’s credit concentration limit.
- Working capital to execute an order/contract.
- Base Rate + Risk-Based margin calculated on reducing balance method.
- A minimum of one month and a maximum of six months. Extensions may be considered if there is a delay in receiving the proceeds.
- Assignment of proceeds plus any other acceptable tangible security such as real property.
- Flexible collateral for loans up to MWK750, 000.00 e.g. Assignment of proceeds plus other forms of collateral such as cash, motorvehicle, home equipment, or business equipment.
- All NBS Bank Service Centres