Invoice Discounting

A term loan is a monetary loan that is repaid in regular payments over a set period of time. Term loans usually last between one and ten years.

Features

  • Interest: MPR + Margin
  • Arrangement Fee: 1% Min ZMW 500
  • Commitment Fee: 1% Min ZMW 500
  • Interest above the Limit: MPR +10%
  • Tenor: 120 days
  • Collateral: Counter party Confirmed Invoices
  • Repayment: Contract performance/discharge

Benefits

  • Access to Funds for working Capital

Requirements

  • Clients must be Suppliers to bank approved counter-parties
  • Brief Business Profile
  • Credit Facility Application Letter
  • Audited Accounts for the last three years
  • Latest Management accounts if audit Accounts older than six months
  • Budget/Cash Flow projections for the duration of the facility as well as underlying assumptions
  • Aged Debtors and Creditors Analysis
  • Description of Property being pledged as collateral as well as approximate value
  • If to be secured through third party mortgage, attach consent documents for the use of the security
  • Bank Statements for the last 12 months if not a UBA customer
  • Brief Profiles of Directors and Top 4 Key Management Staff
  • Board Resolution to Borrow

FAQs

14 days, with all documents and required information in place.
 
Yes: provided the invoice value is still within the approved credit line.