Business and Commercial Lending
Business and Commercial Lending – Borrow for your needs
Lending
1. Pre-Approved Loans
What is it?
- It is an unsecured business loan based on account behavior (good account conduct), suitable for businesses that need quick access to working capital
Features
- Unsecured
- Quick access to funds.
- Loan amount; minimum M5,000.00 and maximum M1,000,000.00
- Maximum repayment term 18 months
- Variable Interest rate; Bank’s prime lending rate+ risk based rate
What does it offer me?
- Easy access to financing with no collateral/security.
- Flexibility: The loan offers business ability to address immediate financial needs.
- Convenience – Businesses are able to access funds on enterprise online.
What do I need to apply?
- 6 months business transactional account(pre-requisite)
- Instruction letter requesting a loan
- How much will it cost me?
- Once off establishment fee
Additional Benefits
- A dedicated Relationship team; Relationship Manager/ Business Banker
Contact us
Contact Customer Contact Centre 8002 2221or Enterprise Direct on 80022122 toll-free or Relationship Manager/ Business Banker.
2. Express Loan
What is it?
- It is a loan that affords a client 120% of the investment amount towards any business financial needs.
Features
- Loan amounts; minimum M5,000.00 and maximum M2,000,000.00
- Maximum repayment terms 36 months
- 80% cash security in an investment form
- Variable Interest rate; Bank’s prime lending rate+ risk based rate
What does it offer me?
- Access to funds within 24 working hours
- Easy access to financing with investment account used as security or collateral.
- Flexibility: The loan offers business ability to address immediate financial needs.
- No need to break the investment for immediate financial needs.
What do I need to apply?
- 3 months Business transactional account(pre-requisite)
- Solvency certificate
- Instruction letter requesting a loan
- Cash Flow projections
- Quotation of items required
How much will it cost me?
- Once off establishment fee
Additional Benefits
- A dedicated Relationship team Relationship Manager/ Business Banker
Contact us
- Contact Customer Contact Centre 8002 2221or Enterprise Direct on 80022122 toll-free or Relationship Manager.
3. Business Term Loan
What is it?
- It is a type of financing provided by a bank to businesses for a specific purpose, typically for capital expenditures, expansion, or other significant investments.
Features
- Fixed loan amount; minimum 50,000.00
- Fixed repayment period; maximum term 7 years
- Variable Interest rate; Bank’s prime lending rate+ risk based rate
- Collateral/Security
What does it offer me?
- Affordable funding aligned to your business needs.
- Structured repayment based on cash flow projections to make it easier to plan effectively.
- Financing of long-term fixed assets and business growth/expansion
- No need to take money out of your business for long-term investments.
What do I need to apply?
- Business Transaction account(pre-requisite)
- Management accounts
- Financial Statements
- Cash Flow projections
- Instruction letter requesting a loan
How much will it cost me?
- Once off establishment fee
Additional Benefits
- A dedicated Relationship team; Relationship Manager/ Business Banker
Contact us
Contact Customer Contact Centre 8002 2221 or Enterprise Direct on 80022122 toll-free or Relationship Manager.
4. Business Working Capital
What is it?
- A solution intended to solve for entities who need working capital
Features
- Fixed loan amount; minimum 50,000.00
- Repayment period; 6 to 24 months.
- Variable Interest rate; Bank’s prime lending rate+ risk-based rate
What does it offer me?
- Provision of financing for day-to-day business operations.
What do I need to apply?
- Business Transaction account(pre-requisite)
- Management accounts
- Financial Statements
- Cash Flow projections
- Instruction letter requesting a loan
How much will it cost me?
- Once off establishment fee
Additional Benefits
- A dedicated Relationship team; Relationship Manager/ Business Banker
Contact us
Contact Customer Contact Centre 8002 2221 or Enterprise Direct on 80022122 toll-free or Relationship Manager.
5. Commercial Property Loan
What is it?
- It is a financing tool for businesses looking to invest in, develop, or expand their real estate holdings. It provides the necessary capital while leveraging on the property’s value as collateral. The properties can include office buildings, retail centres, warehouses, industrial facilities, apartment complexes and other income generating properties.
Features
- Secured
- Down payment from 30% of the property/project amount
- Variable interest rates; bank’s prime lending rate + risk-based rate
- Maximum repayment terms 10 years
What does it offer me?
- Financing of long-term fixed assets and business expansion
- No need to take money out of your business for long-term investments
- Structured repayment based on cash flow projections to make it easier to plan effectively.
- Equity release: Refinancing of property
- Development financing :moratorium(payment break) can be provided during construction phase.
What do I need to apply?
- Business transactional account(pre-requisite)
- Resolution letter
- Management accounts
- Financial Statements
- Cash flow projections
- Valuation report
How much will it cost me?
- Once off Establishment fee
Additional Benefits
- A dedicated Relationship team; Relationship Manager/ Business Banker
Contact us
- Contact Customer Contact Centre 8002 2221 or Enterprise Direct on 80022122 toll-free or Relationship Manager.
6. Business Revolving Line Of Credit
What is it?
- An intermediate medium term asset or working capital finance
Features
- Fixed loan amount; minimum M50,000.00
- Repayment period; 24 to 60 months.
- Variable Interest rate; Bank’s prime lending rate+ risk based rate
What does it offer me?
- Flexibility: the loan amount can revolved or redrawn based on up to 50% paid up capital loan amount
- It assists with reoccurring expenses and
- cash-flow.
What do I need to apply?
- Business Transaction account(pre-requisite)
- Management accounts
- Financial Statements
- Cash Flow projections
- Instruction letter requesting a loan
- Quotation of items required
How much will it cost me?
- Once off establishment fee
Additional Benefits
- A dedicated Relationship team; Relationship Manager/ Business Banker
Contact us
- Contact Customer Contact Centre 8002 2221 or Enterprise Direct on 80022122 toll-free or Relationship Manager.
7. Overdraft
What is it?
- It is a facility provided by bank for working capital that allows an account holder to withdraw more money than is currently available in their account up to a specified approved limit
Features
- Short-term Financing; Repayment term up to 12 months
- Renewable on annual basis
- Flexible borrowing with minimum amount M50,000.00
- Variable Interest rate; Bank’s prime lending rate + Risk based rate
- No monthly interest on unutilised amount
- Requires Collateral/ security
What does it offer me?
- 24/7 Access - Access funds whenever you need it from a Business Overdraft that is linked to your current account
- Affordable repayments - Only pay interest on the amount utilized during the month
- Quick cashflow management tool for your business.
What do I need to apply?
- Business transactional account(pre-requisite)
- Management accounts
- Financial Statements
- Cash Flow projections
- Instruction letter requesting a loan.
How much will it cost me?
- Once off Establishment fee
Additional Benefits
- A dedicated Relationship team; Relationship Manager/ Business Banker
Contact us
- Contact Customer Contact Centre or Enterprise Direct on 80022122 toll-free or Relationship Manager.
8. Vehicle and Asset Finance
What is it?
- This product offers vehicle and asset finance inclusive of vehicle, equipment and plant acquisition, existing plant revamp and modernisation, and renewable energy financing solutions provision.
Features
- Loan amount; minimum 30,000.00
- Repayment period; maximum term 5 years
- Variable Interest rate; Bank’s prime lending rate+ risk based rate
- Qualifying for new or used assets.
- Assets refinance which are not older than 6months from date of importation clearance.
- Asset to be insured at all times
What does it offer me?
- No additional security is required
- Ability to structure repayment to the specific needs of your business
- Repayment terms that suit the cash flow of your business
- A finance package that’s customised to the type of asset you want. ( tracker)
- Negotiable deposits, subject to equity requirements
What do I need to apply?
- Business transactional account(pre-requisite)
- Management accounts
- Financial Statements
- Cash Flow projections
- Instruction letter requesting a loan.
- Quotation of required asset
How much will it cost me?
- Once off establishment fee
Additional Benefits
- A dedicated Relationship team; Relationship Manager/ Business Banker
Contact us
- Contact Customer Contact Centre or Enterprise Direct on 80022122 toll-free or Relationship Manager.
9. Insurance Premium Financing
What is it?
- A short term loan designed for the upfront payment of insurance on asset held by the business. (comprehensive insurance)
Features
- Loan amount – minimum amount M2,500, maximum amount M100,000
- Repayment term- 12months
- Proceeds of this loan are paid directly to the insurance company against the insurance premiums due.
- Variable Interest rate; Bank’s prime lending rate + Risk based rate
What does it offer me?
- Acquisition of insurance cover for all the company’s assets, even-though they are not under any kind of lease or loan obligation with the bank.
- Ensures that the business benefits from relief availed on the cash flows.
- Eases cash flow pressure associated with the requirement for upfront insurance premiums payment.
What do I need to apply?
- 3 months business transactional account(pre-requisite)
- Management accounts
- Financial Statements
- Cash Flow projections
- Instruction letter requesting a loan.