LIST OF DOCUMENTS/ INFORMATION REQUIRED FOR CREDIT APPLICATION.
- Mandate to Borrow
- Board resolution to borrow.
- Loan Application letter indicating the type and amount of credit required, purpose, Source of repayment and time.
- Legality of the Borrower
- Certificate of Incorporation.
- Memorandum and Articles of Association.
- Valid business license.
- Tax Identification Number (TIN Certificate).
- Tax Clearance Certificate.
- Vat Registration Certificate.
- Relevant Authority permits (TFDA permits, TBS).
- Recent annual returns filed with the Registrar of Companies.
- Business operations
- Detailed Business plan.
- Audited financial statements for at least past three years. Notes to the account explaining among others major trends, changes should form part of the statement and Director’s report.
- Latest interim financial statements (Management accounts).
- iCash flow projections.
- Stock and debtors position (age-wise).
- Existing and previous banking relationships and borrowing history (Terms and Conditions for loans operated with Other Banks).
- Bank statement for the past 12 months.
- History and details of Company i.e. ownership, qualifications and experiences of the management team/CVs of Directors and Management Team showing qualifications and experiences.
- Copy of Identity Card for Directors (Voters ID or National ID).
- List of major buyers and suppliers with their applicable terms.
- Business Contracts (Signed agreements with buyers, Inputs suppliers).
- Profoma invoice of asset to be financed (for asset finance loan).
- Verified list of stocks.
- Security of the loan.
- Copies of security documents of the proposed security.
- Tentative valuation of the proposed collaterals.
