A working capital loan is a credit facility granted to a business entity for the purpose of meeting its immediate cash needs in the short-term, providing instant cash to fund your current business activities.
• A working capital loan allows you to structure your financial planning based on cash-flow and can be tailored to suit your business needs
• You cannot use the loan for the consolidation of debt and/or settlement of creditors
• Evaluation principles are based on certainty of repayment source
• Minimum annual turnover of the business for new/existing customers should be greater than or equal to GHC25000
• Minimum loan is GHC1000 and maximum loan should not exceed 20% of business turnover
• Collateral is based on conditions of grant including (but not limited to) cession of debtors, and confirmed source of rectification
• Loan period ranges from 6 months to 24 month
Who can apply?
A registered business entity having opened and operated a business transactional account with Stanbic Bank for a reasonable period of time.
How to apply
Visit your nearest Stanbic Bank branch with the following:
• A statement of affairs of the business, indicating working capital needs
• A simplified cash flow statement for the funds needed
• Security documents for the facility, if determinable
• Signed agreement of the terms and conditions relating to the facility