Asset Financing Loans
Financing for asset acquisition purposes with a maximum loan amount of US$10,000.00
An Asset Financing Loan is a type of loan that allows individuals or businesses to acquire assets (like vehicles, machinery, or equipment) without paying the full cost upfront. Instead, the asset itself is used as collateral/security for the loan.
•Application letter (stating amount required)
• Quotation of the asset
• Proof of own contribution in the form of deposit (30% minimum)
• source of repayment and required / expected terms)
• Original copies of security to be used as collateral.
• 3 months bank statement and proof of business operations (sales receipts or invoices)
• Copies of IDs and Proof of Residence. Through asset finance, businesses can spread the cost of expensive assets over time, preserving working capital for other needs.
