Business term loans
We offer Business Term loans to support your business in achieving its long-term financial goals. In order to make repayment suitable for your business, monthly installments are matched to your business cash flow and the term loan is structured for a period of up to 5 years.
Features and benefits
A Business term loan may be used to purchase / upgrade fixed property, finance fixed. assets, capital expenditure or for the setup / establishment of venture costs.
Your repayments can be tailored to suit your business cash flow projections.
Competitive interest rates are offered for term loans and may be variable or fixed for the term of your loan.
A term loan may not be used for the consolidation of debt or as a substitute product for Vehicle or Asset finance.
Repayment ability is based on past profitability and/or cash flow projections. Subject to first class collateral (tangible, easily realisable security) which the bank is able to fall back on as an alternative source of repayment..
The loan period is from 1– 60 months.
Who can apply
If you have been in business for 12 months or more, you can apply for a Business Term loan
How to apply
Visit your nearest Stanbic Bank branch to apply. The following documentation will be required:
Completed application form.
Certificate of Incorporation.
Certificate to commence business.
Audited financial statement / management accounts.
Cash flow forecast for the term of the facility.
Profit & loss Projection for the term of the facility.
Last 6 months bank statements.
Suretyship of Guarantors.
Board resolution to acquire the assets.
Proforma invoice for asset to be acquired.
Tel: +255 (22) 266 6850
+255 (22) 266 6801
E-mail: tanzaniacustomercare@stanbic.com
service@stanbic.com
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