Trade & Working Capital
At Standard Chartered's SME Banking, we understand how important it is to be financially flexible. That's why we offer a comprehensive range of credit facilities with competitive interest rates and a variety of repayment options to suit your needs.
So whether you are in need of financing for working capital, business growth or for import / export of goods and / or services, you can choose from our products offered which include, trade products; working capital finance and short term loans.
With an international presence over 50 countries and 150 years of banking experience, we can structure a financing solution best suited to your trade or working capital requirements from our complete range of products and services.
Key Features
- Tenors ranging between 6 months to 5 years.
- Registered companies or businesses that have been in operational existence for at least 3 years.
- Audited Financial statements.
- Residential and commercial property, cash and near cash bank instruments accepted as security.
Working Capital and Trade Products
- Loans: For capital expenditure (CAPEX) or short term working capital.
- Loan Against Property (LAP) : Quick TAT product for capital expenditure (CAPEX) and working capital requirements.
- Overdrafts: For working capital support, credit is extended on a revolving basis up to 12 months.
- Bonds and Guarantees: Incorporating bid bonds (preferably secured by cash), cash advance guarantees, performance bonds etc.) A Bank Guarantee is a written undertaking by the Bank to pay a sum of money to the beneficiary against presentation of a written demand and/or any other documents specified in the guarantee. The most commonly used types of guarantees are Bid/Tender Bonds, Performance Bonds, and Advance Payment Guarantees.
- Letters of Credit (L/C): To facilitate cross border trade, the Bank offers L/Cs through its Trade Services Department. An L/C is a written undertaking issued by the Bank in favour of the seller (beneficiary) at the request and in accordance with the instructions of the buyer (applicant), to effect payment up to a stated amount within prescribed time and against stipulated documents.
- Import Loans: To facilitate importation of goods and services.
- Invoice Discounting: Invoices to pre-approved buyers list.
Documents required:
- Company Profile.
- 3 years audited financial statements plus management accounts if financials are greater than 6 months old.
- Bank statement for the past 6 months.
- Copy of Certificate of Incorporation.
- Copy of Articles of Association of the business.
- Copy of Valuation Report.
Eligibility:
To be eligible, your business must have been established for at least three (3) years and with a minimum turnover of USD500, 000 (ZMK 2 billion) per annum.
- Private Limited Companies.
- Proprietorships.
- Partnerships.
- Professional Bodies i.e. Lawyers.
Business Accounts
Business Accounts - Accounts that truly measure to all your growing business needs.
Business Accounts provide you with comprehensive and professional account services designed to help develop your business, better utilise your available resources and maximise your returns. Realising the varying needs of different businesses, we have developed account packages tailor made to suit your specific business requirements:
- Current Account.
- 24-hour Call Account.
- Foreign Currency Accounts.
- Investment Options.
- Fixed Deposit Accounts.
Community Account
Account tailor made for non – profit organizations
Key Features
- Exemption from ledger fees if minimum balance is maintained.
- Spot Transactions (Foreign Exchange Transactions).
- Investment options.
- Phone Banking.
- "Straight2Bank" (S2B).
- eStatement.
For more information, visit your nearest Standard Chartered branch
or call us on +260 211 225623 or email us at customer.first@sc.com