Business Instalment Loan

Purpose	Working Capital needs (e.g. stocks) Business Expansion Asset Financing (e.g. computers) Balance Transfer)
Description	A partially or fully unsecured instalment loan for small businesses
Eligibility	Types of Business: Sole Proprietors, Limited Liability Companies, Partnerships, Self-employed individual professionals, individuals trading under their own names. Business Ownership: Ghanaian or permanent resident Age of Business: Minimum 3 years (5 yrs for individual professionals) Age of Business Owners: Level 1: Min age=28yrs; Max age=60yrs. Level 2: Below/above 3 yrs Min. monthly income: USD 1,667
Turnover Range	Min: GH¢ 98,000 Max: GH¢1.96 million
Product	Loan
Tenor	Min: 12 months Max: Partially secured=36 months Fully unsecured=24 months
Documentation Required	1 year bank statement (for NTB) Document containing info on date of birth of proprietors/owners/directors (passport, driving license, birth certificate etc) Certificate of Incorporation Certificate to commence business Evidence of tax payment and VAT certificate/receipt Company’s Code (Limited liabilities)/Form A (Sole proprietors)/Operating or trade license (professionals)
Loan Amount	Min: GH¢ 7,350 Max: Partially secured = GH¢ 39,200 Fully unsecured=GH¢ 14,700
Price	Unsecured: Base + (8.5% - 11.5%) 30% secured: Base + (6% - 9.5%) 50% secured: Base + (4% - 7.5%)
Other Requirements	Life Insurance for Sole proprietors; No more than 3 (level 2=5) inward (customer issued) return (cheques in last 6 months due to insufficient funds. No return cheque in last month. Outward (customer deposited) return cheques to be restricted to: Level 1: 3% of last 6 months turnover Level 2: 5% of last 6 months turnover
Security	Treasury Bills, Forex, Fixed Deposit, Cash
LTV	Cash – 100% (LCY); 95% (FCY) T-Bills – 90% Bank Guarantee/SBLC – 100%
Acceptable Areas for Landed Property	n/a