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Credit Products

Chiperegano Loans

Chiperegano Loan is given to a group of Business women contributing to one account (the Chiperegano investment account), to boost their communal business ventures. With this facility members have opportunity to get more financial benefit from the Bank than they would as individual applicants.

Loan limit
  • 200% of deposit

Collateral
  • Chiperegano investment account and members to offer mutual Guarantees

Interest rate
  • Base Rate + Risk-Based margin

Availability
  • All NBS Bank Service Centres

 

SME Order Finance

SME Order Finance is a Credit product designed to support businesses with working capital to finance confirmed orders from reputable suppliers.

Target Group
  • Small and Medium Enterprises that are in the business of obtaining and executing orders/contracts.

Requirements
  • The customer is required to fulfill/submit the following:
  • Must have executed similar contracts for not less than 6 months
  • Must be actively banking with NBS Bank for at least 6months
  • Must have a valid order/contract in writing and duly signed by the company
  • Must assign the proceeds of the contract to their NBS Bank account
  • Must submit an Irrevocable Letter of Undertaking to have the proceeds remitted to their NBS Bank account
  • Must submit cash flow projections

Facility amount
  • A minimum of MWK200, 000.00 and a maximum of MWK50, 000,000.00.
  • The amount depends on the size of the order, working capital requirements and the security pledged but not exceeding the Bank’s credit concentration limit.

Purpose
  • Working capital to execute an order/contract.

Interest rate
  • Base Rate + Risk-Based margin calculated on reducing balance method.

Term
  • A minimum of one month and a maximum of six months. Extensions may be considered if there is a delay in receiving the proceeds.

Collateral
  • Assignment of proceeds plus any other acceptable tangible security such as real property.
  • Flexible collateral for loans up to MWK750, 000.00 e.g. Assignment of proceeds plus other forms of collateral such as cash, motorvehicle, home equipment, or business equipment.

Availability
  • All NBS Bank Service Centres

 

SME Loan

This is a credit facility for growing businesses. SMEs can use this facility for working capital or purchase of fixed assets. An SME Loan can help an SME grow into large scale businesses.

Target Group
  • Small and Medium Enterprises

Requirements
  • 6 months business experience.
  • 6 months active account.
  • Marketable collateral.

Facility amount
  • K200,000 - K15,000,000,
  • Up to 100% collateral cover.

Purpose
  • Working capital and or purchase of fixed assets.

Interest rate
  • Base Rate + Risk-Based margin

Term
  • 6 to 36 months

Features
  • Can get parallel loan after good repayment history.
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