FAQs

1. How can I apply for a credit facility with the bank?
You can start off by meeting one of our credit officers when you will outline your project and discuss related matters. This will serve to give us a better understanding of your business as well as your banking requirements.

2. What basic criteria will I need to fulfil so as to obtain banking facilities?
We evaluate proposals for credit on a number of criteria, particularly with regard to:
• Knowing who we stand to be dealing with - not least in terms of business competence and ethics.
• A clear understanding of the borrower’s business.
• Viability of the project itself
• Recent financial statements.
• Business plan and cash flow projections.
• Healthy net asset value commensurate with the nature of the company’s business.
• Ability to service financial commitments.
• Satisfactory conduct of operating bank accounts.
• Outcome of due diligence on the borrower, sureties, guarantors, shareholders and directors.

3. Is security (collateral) essential in order to obtain banking facilities?
Though not the only consideration, the Bank needs to be satisfied that the project/venture to be financed is feasible. This will show the borrower’s ability to generate sufficient funds to service the required facilities. On the other hand, security may be required, especially when the financing is in respect of a new venture and/or in the absence of a borrower’s track record.

4. Are personal guarantees always required?
Personal guarantees are not invariably requested as much depends on our conclusions following due assessment of the proposal. The granting of companies’, shareholders’ or personal guarantees serve as a confirmation to the Bank that the borrowers firmly believe in the project in respect of which credit is being sought.

5. If the value of security deteriorates significantly, will the company’s credit line be automatically reduced or terminated?
Each case is treated on its own merits. This very much depends on the track record established and the conduct of the credit facilities at the time.

6. What type of credit facilities and other services does the Bank offer to SMEs?
We offer a complete range of services, including business loans and overdrafts, trade finance facilities and internet banking.

7. Does the Bank offer specific SME products?
As we prefer to maintain a very close relationship with our customers, we do not offer packaged, off-the-shelf products. We therefore discuss individual requirements and try to provide a tailor-made package.

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