Business Working Capital Loan
A Business Working Capital loan is a credit facility granted to a business to meet its immediate cash needs. The loan provides instant cash to fund your current business activities.
What does it offer me?
- Your loan can be used to buy or upgrade fixed property, finance fixed assets, capital expenditure or set-up costs
- Your repayments can be tailored to suit your business’ cash flow projections
- Competitive interest rates are offered and may be variable or fixed for the term of your loan
- May not be used for the consolidation of debt or as a substitute for vehicle and asset finance
- Repayment ability based on past profitability and/or cash flow projections. Subject to first-class collateral (tangible, easy realisable security), which we are able to fall back on as an alternative source of repayment
- The loan period is from 1 to 10 years.
What do I need to apply?
You need to have been in business for 12 months or more
Visit your nearest branch with the following documents:
- Latest financial statements
- Directors’ personal balance sheets
- Cash flow projections for 12 months
- Resolution signed by the directors agreeing to apply for a Business Term Loan
- Company profile
- Company registration documents
- Six months’ bank statements
- Schedule of debtors and creditors
- If you do not have a business account with us, we need your past three months’ bank statements.
- New customers need to open a transactional account.