Loans
General Requirements:
- Supporting documents for all loans as appropriates
- Passport photo or photocopy of National I.D card
- Three references including one family member (not residing at the same address)
- Cash flow projections where applicable
- A description of the proposed project
- Job letter and most recent salary slip along with evidence of saving pattern
Business loan:
- A business plan for loan in excess of $50,000.00
- A description of the proposed project including Capital
- Expenditure
Short term quick response (STQR) loans:
- A valid contract stamped and signed by the entity employing the contractor
- For non-construction loans, open bills and invoices relevant to the project are needed
Requirements for Housing Loans:
- Bill of quantities
- Approved housing plan (where applicable)
- Name contractor
- Contractor's agreement
- Deed of sale or lease agreement (in the cases of a lease agreement the remaining term should exceed the term of the loan.
- Signed declaration of insurance i.e insurance policy or insurance's cover note.( note a brokers cover note)
Requirements for Construction Loans:
- Copy of work contract
- Two references
- An assignment of funds
- Cash and/or other form of security
- Guarantor
- Costing of material, labour and transport
NB: Information on past and present credit history is required for all loans categories