Corporate Loans and Overdraft Facilities

POSB Corporate loans provide corporates with access to working capital as well as capital expenditure finance. Overdraft Facilities are designed to allow companies to draw from their accounts even when they have no funds in order to bridge temporary financing gaps. POSB Corporate Loans and Overdraft Facilities’ conditions are negotiable. 

 Corporate Loans and Overdraft Facilities Application Requirements

  • Business plan / project proposal / company profile.
  • Financial statements (Income Statement, Balance Sheet, Cashflow Statement, 12 months cashflow projections).
  • Corporate account with POSB.
  • Security (Immovable property, Shares, Cash Cover)
  • Proof of business premises.

Benefits

  • Low commission charged.
  • Instant credit to your DSTV account.
  • Flexible repayment periods.
  • Negotiable business terms.
  • Most favorable rates on the market.
SME Loans and Overdraft Facilities

The loans are ideal for all SMEs and the maximum loanable amounts depend on the size of the SME, asset value and ability to repay. The loans are available for the purposes of order financing, working capital, bridging finance, bank guarantees and asset financing. The loans can be issued to an SME or a group of SMEs where they can guarantee one another in order to reduce default risk. 

 SME Loans and Overdraft Facilities Application Requirements

  • POSB SME account operated for at least 3 months.
  • Cover application letter for the required facility.
  • Brief business profile and proposal to cover current operations, proposed enterprises, marketing arrangements, and project management structure.
  • Financial records for the past 2 years or at least 6 months depending on age of business.
  • Cash flow projections covering the tenor of the facility applied for.
  • Company or partnership registration documents.
  • Certified copies of identity and proof of residence for company directors.
  • Valid tax clearance certificate and trading licences.
  • Collateral – immovable property with title deeds and valuation report or cash deposits or investments.
  • Current banking arrangements with other banks. Bank, branch, account number, relationship manager, time with bank.

Benefits

  • Low interest rates.
  • Flexible repayment periods.
  • Flexible terms.
Agribusiness Loans and Overdraft Facilities

The loans are ideal for all Agriculture based businesses and the maximum loanable amounts depend on the size and nature of the business, intended use, asset value and ability to repay. The Agribusiness loans include order financing, working capital, bridging loan facility, bank guarantees and asset financing. The loans can be issued to an Agribusiness or a group of Agribusinesses where they can guarantee one another in order to reduce default risk. 

Agribusiness Loans and Overdraft Facilities Application Requirements

  • Agribusiness or corporate account operated for at least 3 months.
  • Cover application letter for the required facility.
  • Official tenure of land (original offer letter, title deed or lease agreement from title holder).
  • Brief business profile and proposal to cover current operations, proposed enterprises, marketing arrangements and project management structure.
  • Certified copy of national identity documents and proof of residence (individual applicant and/or company directors).
  • Insurance policies covering; key-man’s life, crop/livestock, farm machinery/equipment, loan protection.
  • Current banking arrangements with other banks. (Bank, branch, account number, branch/relationship manager, time with the Bank.)
  • Cash flow projection covering the tenor of the facility being applied for.
  • Tobacco growers to submit grower’s number.
  • Attach copies of quotations from reputable suppliers for Capital Items to be financed.
  • Cash budget for crop to be produced (outlining prices of inputs and output as well as expected profit).
  • Production schedule outlining hectarage, timelines and expected yields.
  • Irrigated/dry land farming (to be stated clearly in brief business outline).
  • Collateral: immovable property with title deed and valuation report/ cash deposits / investments personal / group guarantees (Terms and Conditions apply.)

Benefits

  • Low interest rates.
  • Flexible repayment periods.
  • Flexible terms.
Women Empowerment Fund Facility

The Fund is specifically meant to support working capital and capital expenditure requirements for women projects with primary focus on production, value addition, export-oriented projects and projects with a quick turn-around. Applicants to the fund must ensure compliance with relevant laws/ by-laws. 

Eligibility

Projects with the following characteristics are eligible for funding:

  • Start-ups/ Greenfield projects exhibiting potential in terms of markets and prospects of viability
  • Existing business ventures with evidence of viability, sustainability and prospects for growth

Benefits

  • Favourable loan repayment periods.
  • Low interest rates.
Schools Development Loan Facility

The loan can be used for working capital financing (for income generating projects and renovations), or asset financing (to purchase assets such as school buses, trucks and passenger vehicles).

Schools Development Loan Facility Application Requirements

  • School Account which receives school fees payments with POSB which has operated for
    at least 1 month.

Benefits

  • Low interest rates.
  • Flexible repayment periods.
  • Flexible terms.