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Target Group – Companies and Self-Employed Persons
Range – Loans and Overdrafts above GYD$25M but below GYD$70M
The Commercial Loan can be accessed for:
Working capital financing
Purchase of fixed assets such as land
Purchase of current assets such as stock, machinery, equipment, vehicles etc.
Repayable by monthly or *periodic installments of principal and interest on the reducing balance.
*dependent on the type of industry
The Overdraft can be accessed for working capital requirements. Subject to an annual review.
Rates are dependent on the industry type and collateral offered.
Application Fee:
Up to GYD$5M – GYD$4,500
Over GYD$5M – GYD$7,500
What you will need
Below is a list of documents you may need to have at the time of application depending on your business and circumstances:
One form of Valid Identification
Recent Utility Bill
Proof of Address
TIN Certificate
Statement of Income
Business Registration or Incorporation for the company
Statement of Affairs
Copies of Contracts, Purchase/Sales Receipts
Cash flow projections for the next 12 months
Financials for at least 3 years if the business is in existence for 3 or more years
Copies of Documents for Assets e.g. Title/Transport/Vehicle Registration/Lease/Valuation for Property or motor vehicle
Updated Rates and Taxes/GWI receipts
Statement/letter of Indebtedness for any loans at another institution
Estimate/Quotation/Price List/Agreement of Sale/Letter of Intent