FNB BUSINESS LOAN
FNB Business Loan (Business Loan)
        
The loan account recommended for Commercial clients looking for medium to long-term loans to finance capital expenditure or to alter, expand or acquire business premises.
Location: South Africa
Lender/Broker: Lender
Advantages:
1. Match your financing requirements to the funding profile and keep your overdraft facility for your working capital requirements
2. Structure your term loan so that the repayments align with your cash flow
3. Know what you are going to be paying each month so that you can plan and budget accordingly
Disadvantages:
1. A once-off administration fee of 1% of the term loan amount is levied when the loan is paid out
Services:
1. Business Loan lender

Interest Rate: negotiable and risk relatedLoan Amount: Starting from R50 000
Min Term: 12 monthsMax Term: 120 months

Secured Loan: YesUnsecured Loan: Yes

Terms and Conditions:
The decision by the Bank to provide credit facilities is contingent upon approval of the facilities, fulfillment of all requisite conditions precedent, implementation of all collateral requirements and execution of all agreements and documentation to the Bank's satisfaction.
Identification:
1. Provide signed financial information as well as unqualified annual financial statements for the past 2 years
2. recent year-to-date management accounts
3. projections (cash flow, income statement and balance sheet)
4. bank statements for the previous 6 months if not banked with FNB
5. Provide a business plan to demonstrate the viability and sustainability of the business
6. Complete and sign the Business Loan application form (download in PDF format)
Suitable:
1. For business owners that have been operating for at least two years with an annual turnover starting at R 1 million
Restrictions:
1. We have established basic qualifying criteria for clients who wish to apply for term finance in order to service our clients in a responsible manner
2. Your business should have been operating for a minimum period of 2 years with an annual turnover of between R1 million and R40 million and a well conducted bank account. If the primary bank account is not with FNB, the business owners must be willing to transfer their business account and provide copies of their bank statements for the past 6 months
3. Satisfactory credit records
4. Must be able to offer some form of tangible collateral e.g. a covering bond over their residential or business property
5. Khula guarantees are available to clients who have a well-run business but lack collateral to secure a loan
        
REVIEWS
FNB Business Loan (Which Way To Pay South Africa - 3/2/2013)
FNB Business Loan is ranked 3 out of 5. Based on 1 review.

3 Star Rating

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