MERCHANDISE LOAN

Are you looking to purchase light or heavy duty vehicles?

Berhan Bank offers motor vehicle loans, i.e. a type of credit facility extended in the form of term loan for the purchase of both light and heavy duty vehicles. The motor vehicles could be utilized for goods or public transport service.

Type of document required

– In order to begin the loan application process, you must present:
– Loan application letter
– Identity card
– Proof of income or employment
– Marital status
– Be at least 18 years of age
– Collateral ownership document

– Trade/Business License
– Tax Identification Number
– Vat Identification Number
– Investment License
– Principal registration certificate

– Commercial Credit Report /CCR/ for loan request below Birr 1 million
– Provisional Financial Statements for loan requests from Birr 1 – 5 million
– Audited Financial Statements, including cash flow forecast
– Projected Financial Statement for project loan request

Title deed/LHC, Lease agreement, lease payment receipt Booklet, etc

– Management and Organization
– Facilities (Factory building, store, shop, vehicles, machines, etc)
– History and nature of the business

– (Term loan, Overdraft account statement, merchandise loan account statement, statement that shows Import/Export performance – at least six months )

– Stock, debtors, and creditors, and other significant figures break down
– Ownership certificates or rent contracts of properties
– Memorandum and Article of Association
– Supporting documents of business facilities – warehouse, machines
– Contracts at hand and construction projects completed
-Machinery Invoice – purchased and to be purchased
– Tax Clearance Certificate

Demos

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