Commercial Property Loan
A Commercial Property Loan is long-term finance in the form of a flexible loan to buy commercial or industrial premises, or residential properties classified as commercial and used for business purposes. It offers building loans to property developers for the construction of commercial or industrial buildings. It also caters for further advances to existing borrowers for extensions and improvements to their commercial or industrial properties.
What does it offer me?
Properties that can be financed through a commercial property loan include
- Shops, offices or blocks of flats
- Warehouses, showrooms, factories or similar industrial premises
- Sectional title complexes (zoned for business purposes), including individual units in these complexes
- Existing residential properties, which are mainly used for business purposes and have business rights or consent to use for business
- The properties mortgaged must be in Botswana.
What do I need to apply?
- Formal property valuation in our favour (whether building or buying or refinancing a completed property)
- Company profile (Should include company background; management background in terms of qualifications and experience; information about the business’ competition and competitors; company’s main suppliers and customers)
- Personal balance sheets of shareholders
- Resolution letter or formal letter on company letterhead, clearly indicating the loan amount and loan period
- Annual financial statements and management accounts if statements are more than six months old
- Cash flow projections with assumptions indicating the home loan repayment amount
- Proof of marital status and copy of marriage certificate (in/out of community of property) or Decree Absolute
- Directors’ details (Work and residential permits, Copy of Omang or passport, utility bills for proof of address- less than three months old, residential and postal addresses)
- Bank statements for the past six months (if account is not held with us).
Who can apply
- If you have been in business for 12 months or more, you can apply for a Commercial Property Loan.
Where can I get more information
Contact your Relationship Manager (Existing Client)
Call us on 00267 361 8555, toll free 0800 600 685