BRIDGING FINANCE

This is a short-term facility to help clients meet orders or tenders or contracts promptly.

• Financed orders or tenders or contracts are from reputable companies as determined by the Bank
• Order or tender or contract acts as security for the facility.
• Clients may be required to pledge cash or immovable property as additional security
• Repayment is once-off.

OVERDRAFT

This facility is open to already existing businesses, which are run through Current Accounts held with the Bank.

• Facility is for acquisition of trading stock and provision of working capital
• It is available to both sole traders/proprietors and companies
• Finance is available for any amount, depending on viability of the business, directors’ capabilities to run business efficiently
• Repayment is on demand and renewable after 12 months (1 year). 

SMALL SCALE LOAN GUARANTEE SCHEME (CBS SCHEME)

This facility is open to start-ups or already existing businesses that are engaged in any industry such as retail, agriculture, commerce, tourism, construction, etc.

• Facility is for acquisition of fixed assets, working capital and financing of orders or tenders or contracts
• Eligible businesses should be owned by a Swazi national or be a legal entity in which 75% ownership is held by Swazi national(s)
• Facility has a maximum credit amount of E500, 000
• Repayment period is not more than 60 months (5 years).

REQUIREMENTS FOR SMME LOANS

• Business Plan (not required for Bridging Finance)
• Cash Flow projection for the duration of the facility
• Audited financial statements for past two years (for existing businesses)
• Six-month bank statements and Banker’s Report (for business banking with other banks)
• Trading Licence
• Copy of valid Lease Agreement or proof of ownership of operating premises
• Memorandum and Articles of Association
• Form J & C
• Certificate of Incorporation
• Resolution to borrow
• Curriculum Vitae (CV) for key personnel in the business
• ID copies of directors
• Training and mentoring from accredited service provider
• Quotations of material to be purchased.