Working capital Loans
These are credit facilities for Micro-Small to Medium enterprises for meeting their day-to-day operations of the business ranging from stocking to payment of salaries, with a maximum loan amount of US$5,000.00.
Working Capital Loans are short-term loans that businesses use to finance their day-to-day operational needs, rather than long-term investments like buying land or equipment. These loans help ensure that a company has enough liquidity to cover immediate expenses such as salaries, rent, inventory purchases, and utility bills.t
• Application letter (stating amount required, purpose of funds, source of repayment and required/expected terms),
• Original copies of security to be used as collateral
• Company documents (including Memo & Articles, CR 6, CR 14, CR 2, Certificate of Incorporation, Tax Clearance Certificate)
• Copies of IDs
• Proof of Residence for all the Directors. Proof of 3months’ income (sales receipts or invoices).
