Corporate loans

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Enjoy ACB corporate loans.

Corporate loans are available to make you realise your business dreams. Visit us today and start to enjoy TZS 100m and above at affordable and negotiable interest rate coupled with a convenient period up to 3 years.

AKIBA COMMERCIAL BANK PLC CHECK LIST FOR COMPANY/CORPORATE CREDIT APPLICATIONS

  1. Borrowers must be account holders with ACB and they must have operated their accounts satisfactorily for at least 6(Six) months.  (For a competitive corporate customer we will insist for additional 12 months Bank Statement from his/her previous bankers)
  2. Submit a formal written application for credit facilities, mentioning clearly the amount applied for, purpose of the facility, period for which the facility is required and collaterals offered to cover the proposed facility.
  3. Submit original plus a copy of Memorandum and Articles of Association, Certificate of Incorporation (for Limited Liability Companies) and Business licence, which will be certified by an authorised Bank Officer.
  4. Submit a brief on business ownership and profiles of key members of management.
  5. Board of Directors Resolution authorising borrowing from ACB and pledging their company’s properties as collaterals.
  6. Submit copies of Audited Financial Statements (Balance Sheets and Profit and Loss Accounts) for the last three years. Reputable audit firms registered with the National Board of Accountants and Auditors must audit the Financial Statements.
  7. Submit Business Plans supported with cash flow projections chart, Letters of Credit and Schedules for the coming 12 months and the latest Management Accounts.
  8. Other business documents such as contracts/orders/LPO’s and tenders in hand and invoices for goods/materials to be purchased.  Up-date inventory and trade receivables detailed age wise.
  9. Income Tax Official Returns if any (For Limited Company).
  10. Copy of Annual Returns filed with the Registrar of Companies (For Limited Company.
  11. Indicate banking relationships with other Banks/Financial Institutions giving details on credit accommodations from other financiers.
  12. For individual persons: biodata including age, marital status, details of spouse, business and residential address, name and address of employers, annual income, number and age of dependants must be provided in the application.
  13. Photocopies of Titles to the proposed collaterals with their respective valuation reports from the Bank’s approved valuers. (Land rent paid up to date, Insurance Policies and Property Tax).

For further information please visit an ACB branch near you or call 2118340-43