PRODUCT PURPOSE/DESCRIPTION
Overdraft purpose is to finance fully fluctuating working assets of a business, mainly stocks and trade debtors and not intended to finance permanent working capital, business expenses nor any form of long term assets.
PRODUCT FEATURES
| Loan Amount | Determined by business need |
| Repayment Capacity | Will be assessed on existing Business cash flow and cash flow projections |
| Security | Required, as per collaterals defined in the Group Lending Policy |
| Maximum Tenor | 1 year renewable |
| Charges: | As per tariff |
| Currency | SSP, USD |
BENEFITS
- Once the limit is approved, the overdraft can be utilized at the business’ prerogative without seeking approval at each drawdown.