This facility is open to clients who are already in business or who want to venture into it.
- Facility is for acquisition of business, stock and business equipment
- It is open 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 and security/collateral offered
- Repayment period is not more than 36 months (3 years) or 60 months (5 years).
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.
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.