A credit facility aimed at boosting short term consumer or working capital requirements that is given to customers with an NBS Bank current account.
Target Group
Sole Traders, Partnerships, Limited Companies
Facility Amount
Maximum advance is 50% of average monthly turnover or net income
Interest rate
Negotiable
Security
Real property at 80% Loan to Value ratio
Requirements
Sole Proprietor:
6 months active account
Business income credited to the account on monthly basis
Cash flow projections & Financial Statements
Business plan and company profile
Insurance policy covering full value of the collateral
Limited Companies
6 months active account
Certificate of Incorporation
Memorandum and Articles of Association
Board resolution
Cash flow projections
Business plan and company profile
Audited Financial statements and management accounts
Insurance policy covering full value of the collateral with our financial interest duly noted
Partnerships/Trust
6 months active account