Explore Our Short-Term Working Capital Facility
Overdrafts
This is short-term credit facility (not to exceed one year) arrangement under which the Bank extends credit up to a maximum amount (called overdraft limit) against which a current (checking) account customer can write cheques or make withdrawals. It is a revolving borrowing facility repayable on demand.
The purpose of this type of facility is to assist clients with temporary cash flow gaps. Overdrafts must not be used to finance the acquisition of fixed assets.
Invoice Discounting
Invoice discounting allows the SME to draw money against its invoices issued before the customer has actually paid. To do this, the SME borrows a percentage of the value of its invoice from a bank, effectively using the unpaid sales invoices as collateral for the borrowing.
Board resolution (Ltd. Liability)
Invoice(s) to be discounted
Letter of Understanding
Company profile
Letter of Undertaking from contract employer.
Term
1 – 12 months
Minimum amount
50% of the invoice value
Maximum amount
80% of invoice value and GHS 1,000,000.00 whichever is lower.
Currency
GHS, USD
Interest rate
GRR + 2%-10%%
Commitment fee
1.5%
Processing fee
1.5%
Local Purchasing Order Finance
Cheques Discounting
This allows customers to borrow money from the bank on the security of postdated cheques issued by their credit-worthy customers. We give customers immediate value to confirmed commercial bank instruments such as bank cheques, bank drafts, Bankers’ Payment, and other confirmed instruments in this class.
Facility application letter duly signed by authorized signatory [ies].
Board resolution covering the credit request.
Company’s Registration Documents.
Latest call report on discussions regarding the credit request.
Personal financial statement of guarantor[s] (Statement of Net worth).
Cheques to be discounted.
Deed of assignment.
Letter of Set-off and Lien.
CashBacked Facility
This is when customers use their own funds as collateral to borrow money
Board resolution covering the credit request
Company’s Registration Documents
The facility amount shall not exceed 90% of the hypothecated funds.
If the cash collateral is not denominated in Ghana cedis, a conservative conversion rate will apply.
