OverdraftThis is offered to help your business meet its working capital requirements. Your Relationship Manager will determine your borrowing limit together with you. The facility is renewable annually. It entails simple documentation and could be made available in a range of currencies depending on your business requirements.
Bills DiscountingThis offers your business cash against post dated cheques issued by your customers. The Bank discounts these cheques and the amount is credited in your account upfront helping you to manage cash flows better. The discounting of cheques is undertaken on certain pre-approved customers. It is ideal in managing the business in today’s competitive environment without having to wait for cheques to be realized on due date.
Invoice DiscountingThis gives your company an ideal opportunity to transform credit sales into working capital. The invoice is discounted by the Bank once it is accepted by your customer. This gives you immediate cash injection in the business upto an agreed percentage of the value of the unpaid invoices. Your Relationship Manager will help you decide whether invoice discounting finance will work for your company.
Loans including asset backed financingTerm Loans ranging between 1 to 5 years are offered to part fund your ongoing business expansions and other capital expenditure programmes. Asset backed financing is also undertaken where the Bank uses collateral such as land, buildings, equipment or inventory as security against the loan. The repayments are tailor-made to suit the cash flows associated with the business.
Import & Export financingA loan is granted to the importer to provide liquidity for buying against sight payment. Each loan is related to a specific import transaction and the terms of financing can vary depending on the type of product and the requirement of the importer. This provides importers who have orders from customers backed by a letter of credit with the necessary financial backing to meet larger orders than they would on their own financial strength.
When you export, you significantly reduce the risk of non-payment by asking your buyer to pay you under a letter of credit. The Bank helps you get paid quickly by discounting such letter of credit after its acceptance by the issuing bank.
Contract financingTaking into account your contractual requirements with your clients and based on the cash flows, we structure a full array of banking products specifically to suit your requirements thereby enabling you to comfortably execute your projects.
Structured dealsWith their extensive banking experience, our Relationship Managers are able to help you understand and structure deals most beneficial for your business requirements. This involves a customized package from a lender to a borrower.
Letters of CreditLetters of Credit are a time-tested mechanism for settlement of international trade transactions. They are an undertaking given by us, at your request, to effect payment against presentation of credit complying documents. This is an effective way to get paid for goods and services that you have provided or an effective means of ensuring delivery of goods and services that you have paid for.
GuaranteesThe Bank stands as a guarantor to your client to meet your trade/contractual agreements for a fee.
Documentary CollectionsThis provides an excellent solution to help lower costs and expedite processing while still maintaining control over the transfer of goods and funds. When this facility is used, you as the seller forward the shipping documents and a sight/time draft drawn on the buyer’s account to the Bank. The draft and the documents are sent with instructions to the buyer’s bank. The buyer’s bank delivers the draft to the buyer, but retains the documents until the buyer pays or accepts the draft. This lets you maintain control of your shipments until payment is secured. The buyer also benefits by not having to release the payment until the goods have been shipped. We can supply you with an efficient routing system for your trade documents so that you can be sure of their delivery to you, your trading partners and their banks.
