Personal Commercial
Everyday Banking | Borrow | Invest
 
Commercial Banking
Small Business Expansion Loan  
 

TOTAL FACILITIES

Up to $250,000
PURPOSE OF LOAN

Working Capital & Expansion

LOAN LIMITS

1. Working Capital - (1) Overdraft or Term Loans - 5% - 8% of estimated annual sales
2. Revolving Loan - up to 75% of working assets
TERM
1. Overdraft - on demand with annual review.
2. Revolving Loans - 3 to 6 months repayment.
3. Term Loan - up to 5 years repayment.
INTEREST RATE
Fixed for one year with review 
MORATORIA
On capital repayments of up to 1 year
REPAYMENT PROVISIONS
Depending on circumstances:-
a. Fixed monthly instalments on either amortised or instalment basis
b. Interest only with provisions for periodic lump sum payments
FEES/CHARGES
Discount on all fees in the first year of lending.
INSURANCE PROTECTION
Insurance acceptable to the Bank
SECURITY
  • Mortgages
  • Debenture
  • Mortgage Bills of Sale
  • Chattel Mortgages
  • Assignment of Contract Funds
  • Charge over marketable securities and readily realisable assets
  • Assignment of Insurance covering insurable assets for full value.
  • Keyman/ Life/ Group life insurance on principal(s)
  • Director’s Guarantees
    		•
    FINANCIAL DATA

    Business Plan
    Periodic Management Accounts
    Annual Accounts
    Cask Flow Forecast

     
    © 2008 Republic Bank (Grenada) Limited. All rights reserved.