- The borrowing requirements for SMEs are:
- Your business plan.
- Application letter clearly stating:
- Amount sought.
- Repayment arrangement.
- Your company profile.
- Audited accounts and/or management accounts for the previous three financial years.
- Projected cash flow for the period of the loan with supporting assumptions.
- Board resolution to borrow (in case of limited companies)
- Full details of security offered as collateral.
- Latest valuation report of property to be pledged as security addressed to the Bank.
- Insurance of the property offered as security.