CBZ Home Loans Division is offering a commercial and industrial loan facility for the purposes of:-
- Building Finance
- Purchase
- Property improvements
SECURITY
The loan shall be advanced against the security of immovable property and a bond shall be registered.
LOAN CONDITIONS
- Application fee of $200.00
- Variable interest rate – 12% per annum.
- Establishment fees – 1.5% payable upfront once off.
- Mandatory Property insurance Plan
- Registration of a mortgage bond
- Applicant should have a corporate account with the Bank which is in full operation for at least 3 months.
- Monthly repayments shall include the Principal, Interest & insurance.
DOCUMENTARY REQUIREMENTS
FINANCIAL REQUIREMENTS
- Audited financial statements for last two complete years and management accounts for the current period (last audit to date).The financial statements must have been prepared by accountants registered by the Public Accountants & Auditors Board (copy of practicing certificate must be attached). All the statements should be signed by the Directors.
- In a case where a property-holding company owns the property, financial statements should be submitted for the group or for the company from
which funds will be availed to meet mortgage repayments.
- Bank statements for past six months.
- Actual cash flows for the current period and a cash flow forecast for next twelve months, the monthly repayment of $–.–. must be factored into the projections, including full details of assumptions made in their preparation.
- Commentary on the latest year-end and year to date management financial statements including comparison of actual performance with budgets and forecasts.
- Debtors and creditors age analysis
BUSINESS PROFILE
Brief Business report detailing -.
N.B. Application processing will only commence on full receipt of all requirements.