Business Loan
THE FOLLOWING ARE THE BASIC REQUIREMENTS FOR BUSINESS CREDIT FACILITIES:
CHECKLIST FOR SUBMISSION OF CREDIT APPLICATION |
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S/N |
PARTICULAR |
CHECK |
1. |
Application letter detailing type, amount, purpose of the requested loan, duration of the loan and type of security offered to cover the loan |
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2. |
Board resolution authorizing borrowing |
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3. |
3 years Audited Financial Statements |
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4. |
Recent Management Accounts |
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5. |
Projected month-to month cash flows covering period of the facility with assumptions |
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6. |
Full financial projections for the tenor of the loan for Medium and Long Term loans i.e. Balance Sheet +Income Statement + Cash flow |
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7. |
Copies of the Security Documents Certificate of Occupancy Current Land Rent Receipt |
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8. |
Pictures of the Security to be attached with Call Report |
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9. |
Recent valuation report (fixed properties) |
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10. |
List of Debtors & Creditors aging analysis (30,60,90, 120 days) or other agreed period |
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11. |
Customer’s existing bank loan statements at least past 12 months) |
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12. |
Customer Bank Statement from other Banks for the past 12 months. |
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13. |
Copy of offer letter from other lenders |
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14. |
Recent Annual Returns filed with Registrar of Companies ( BRELA) |
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15. |
Business Progress Report/ Business Plan |
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16. |
Company/ Business and Management Profile ( Including CV’S of the Directors) |
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17. |
Memorandum and Article of Association |
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18. |
Certificate of Company Registration/Incorporation/Extract from Registrar |
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19. |
Valid Business License |
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20. |
TRA Tax Clearance Certificate |
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21. |
VAT Certificate ( If Applicable) |
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22. |
TIN Certificates |
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23. |
Directors ID’s and Photos |
Specific documents for artificial persons which must be submitted in additional to the above documents:
Limited liability companies
a. Certificate of incorporation
b. Memorandum and articles of association
c. Board resolution authorizing the company's borrowing and creation of debenture
over company's' assets
d. Latest annual return filed with the registrar of companies. The company must update its company names and business names records wherever they are through BRELA website www.brela.go.tz or https://ors.brela.go.tz/ors (Branch team must obtain official search from BRELA through Online Registration System.
e. Photographs of all company directors, endorsed by them and certified by the respective credit officer/ Branch Manager
f. Curriculum Vitae (CV) for all directors and top management officials for the company under consideration.
Sole Proprietors/ Partnership
Certificate of registration
Extract from the registrar
Partnership deed or partners' personal guarantees
Other artificial persons
a. Certificate of registration from the respective authorities
b. Constitution filed with the relevant registration bodies
c. Personal guarantee of the owners
NB: Before submission of a loan application to the relevant approving authority for consideration, all documents must be certified by the respective credit officer/Relationship officer or Branch Manager
Corporate directorate Lending activities will be performed while adhering to Operational Manuals of both Business Banking and Trade Finance Products depending on the Corporate Customer Credit Facility requests.