Financing Instruments & Financing Providers
Total results: 51
Financing the working capital for business
- Business with a need of working capital
- Application letter from the customer
- Certificate of business registration/incorporation
- Memorandum & articles of association (for Corporate and SME)
- Latest 6 months bank statements (12 months if Business is seasonal in nature)
- Proforma invoice from the dealer/vendor
- Latest 3 year financials, tax clearance certificate and cash flow projections. Audited financials are required for higher exposures. (For Corporate and SME)
- Copies of contract where asset sought is to meet contractual requirements. (For Corporate and SME)
Fully secured working capital loan to entrepreneurs with active businesses to all Rwandan registered companies and individuals
- Existing business
- Application letter.
- Project description (customer needs statement) - Financial statement certified.
- Company Registration Certificate/ID copy of the applicant and his guarantor.
- Legal status certificate.
- RRA Tax Clearance Certificate.
- Valuation report of collateral (done by a valuer which has a partnership with UNGUKA Bank Ltd).
- Collateral title (land, factory, car etc) and movable security documents.
- Act of lending property if the collateral doesn’t belong to the borrower.
- Life insurance is mandatory for individuals.
- Fire insurance for house and comprehensive insurance for car (applicable for loan beyond 3 Million).
- Notified Board resolution for companies.
- Bank statements for the last 6 months (if account held with another financial institution).
48
Urunana product is offered for Community Banking, basically group of people who have self-selected into groups of min 8 to max 15 individuals. The priority is given to Low income and micro entreprenuers particularly women and youth living inperi - urban and rural areas
- Repayment frequency: bi-weekly or monthly
- Group recomemded / Approved by Local Authority
- Loans should be used for the given purpose
- ID cards,
- Group constitution,
- Recommendation from cell phone company
6
Ubwizerane is a graduation product offered to Community bank customers who have demonstrated growth, and who require larger loans to continue growing their businesses, and who have a good repayment record.
- Crops can be: Seasonal Repayment holiday with monthly interest
- Livestock can be: 1 to 6 month grace period then monthly principal and interest (P&I)
- ID cards,
- Group constitution,
- Recommendation from cell phone company
12
Clients/prospects in the various business units’ target markets fulfilling the risk acceptance criteria set by the Bank, but with a proven record of monthly income to be channelled in our books.
- The IPF will be used to finance all types of insurance policies except medical and life insurance policies.
- The Bank will only finance premiums for insurance policies that are current and continuing or newly written policies.
- A commitment from the insurance company guaranteeing the repayment of the unutilized premium portion in case the customer fails to honor its repayment obligations within a period not exceeding 7 days.
- Upfront payment of first two installments.
- Personal guarantee of the shareholders for the total facility amount plus accrued interests.
- Additional collaterals may be requested depending on the risk profile of the client.
10
Short term loan from 1 to maximum 12 months which is granted to business customers having procurement contract
- Open account in UB
- Procurement contract, sub-contract or Purchase Order
- 20% of customer contribution
- Experience in business or in tender execution
- Application letter
- Payment domiciliation in UB
- Company Registration Certificate/ID copy of the applicant and his guarantor
- Procurement Contract, Sub-Contract or Purchase Order
- Legal status certificate
- RRA Tax Clearance Certificate
- Valuation report of the collateral (done by a valuer, which has a partnership with UNGUKA Bank
12
This product targets mainly active clients particularly women and youth. These are clients who are graduated from the community bank to join the Solidarity group after finishing a certain number of cycles for them to access a high loan amount
Activity in trading
- Identification Card
12
Short term loans given to coffee exporters for up to 1 year to finance the washing and exporting of coffee
Open
12
Safi product is targeting Self help groups and Voluntary Savings and Loan Association (VSLA's) in the deep rural areas. We partner with NGO’S who link their Savings Groups with VFR to access higher loans.
- Matured groups after 12months of formation
- Repayment frequency:Monthly
- Recomemded by an NGO / Facilitating Agency / Local Authority
- ID cards,
- Group constitution,
- Recommendation from cell phone company
6
- Secured Loans
- Unsecured Loans
- Must be registered as a business in Rwanda.
- Must be an Inkomoko client in good standing (current on payments within due date) for a minimum of three months.
- The business must be in existence and active for at least 6 months.
- ID of authorized Representative and shareholders.
- Must be an Inkomoko client in good standing (current on payments within due date) for a minimum of three months.
- Projects that fits AEC’s mission (eg. Employment creation).
- Past, current and Projected financial statements.
- Provide account statement, if any
Ability to repay the loan. - Good credit history (CRB) with AEC RT or other financial institutions, If any.
- Certificate of company registration.
- Financial Statements.
- In case of a collateral to be pledged, document of the property shall be provided.
- Tax clearance certificate,Bank Account Statements.
36
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.
- Verifiable net operating cash flow (averaged over 2 years) equal to or greater than (4) times the size of the proposed overdraft limit.
- Tangible and readily realizable security in one or more of the following forms: a. Charge over the operating assets of the business for the full amount of the limit; b. Goods in transit being shipped to the order of the bank (bills of lading made out to the order of the Bank); c. Pledge of specific stocks under the control of the bank in a bonded warehouse; d. A full set of Bills of Lading with BPR endorsed as consignee; e. A registered mortgage over residential or commercial property with a forced sale value (FSV) by an approved valuer of 125% of the limit
- Fixed charge over fixed assets
- Set off on deposits held with the Bank
- Bank guarantees
- Negotiable instruments with acceptable liquidity such as Bonds, Repos etc.
- All security is required to be fully insured in sufficient amount to repay BPR, with BPR as the named loss payee. Current insurance policies from acceptable insurers to be held.
- Overdrafts are high risk credit products and their use should be restricted to situations where other short term credit products are inappropriate or unworkable
- Businesses that demonstrate good current account credit turnover (banking) or businesses that hold relatively high levels of stocks and debtors evidenced by periodic reports. In all cases, the account must record fluctuation of at least 50% of the facility amount per quarter.
- A minimum of Rwf 5 Mio should be allowed.
- Facility letter signed by the customer to confirm his acceptance of the terms of the bank’s offer
- Signature by the borrower to the Bank’s Standard Terms and Conditions for Credit Facilities
- Overdraft agreement on the bank’s standard form setting out the conditions for conduct of the overdraft.
- For a company:
- Copy of the company’s certified statutes and Copy of the certificate of registration.
- Resolution by the Board of the company authorizing the company to borrow from the bank We should check for any negative covenants
- For partnerships:
- All documents must be aligned with partners’ deed and signed in accordance with the powers stated in the partnership deed.
- For sole traders:
- Copy of the certificate of registration must be obtained.
- Tax clearance certificates
- Adequate Insurance
- Security documentation appropriate for the security concerned as per the Credit Policy checklist.
- A copy of latest tax clearance certificates otherwise the current account with RRA.
- List and ageing of debtors and creditors (if applicable)
12
Product designed for clients in need of working capital for clients with emergency of money for finance their tenders or any other urgent need justified by the client.
Activity in trading
- Identification card
6
An overdraft loan is a lending arrangement on a current account that permit the customer to over withdraw on current account up to the specific limit with a specific expiry date
- Open account in UB
- Procurement contract, sub-contract or Purchase Order
- 20% of customer contribution
- Experience in business or in tender execution
- Project description (customer needs statement)
- Application letter
- Company Registration Certificate/ID copy of the applicant and his guarantor
- Legal status certificate - RRA Tax Clearance Certificate
- Valuation report of collateral (done by a valuer who has a partnership with UNGUKA Ban
3
Overdraft is commonly extended for working capital requirement
- Existing business with need of overdraft
- Application letter
- ID/TIN
Medium and long term facility for acquisition, renovation or construction of residential houses, commercial buildings, schools, medical clinics, etc
- Open account in UB
- Regular income (from: salary, business, livestock, rent, etc...)
- 30 % for other customers
- Application letter
- Company Registration Certificate/ID copy of the applicant and his guarantor
- Legal status certificate - RRA Tax Clearance Certificate
- Valuation report of the property and bill of quantity of remaining work (done by a valuer, which has a partnership with UNGUKA Bank Ltd)
- 34: Construction permit
- Collateral title documents
- Act of lending property if the collateral doesn’t belong to the borrower
- Life insurance is mandatory
- Fire insurance
- Provision sales agreement for purchase
- Notified Board resolution for companies
- Bank statements for the last 6 months (if account held with another financial institution)
10
Fully secured working capital loan to entrepreneurs with active small businesses to all Rwandan registered companies and individuals
- Open account in UB
- Active business (experience for 6 months)
- Loan Security
- The business has to be located in Rwanda
- Project description (customer needs statement)
- Financial statement certified
- Application letter
- Company Registration Certificate/ID copy of the applicant and his guarantor
- Legal status certificate - RRA Tax Clearance Certificate
- Valuation report of collateral (done by a valuer, which has a partnership with UNGUKA Bank Ltd)
- MICRO WORKING CAPITAL LOAN 21: - Collateral title (land, factory, car etc) and movable security documents
- Act of lending property if the collateral doesn’t belong to the borrower
- Life insurance is mandatory for individuals - Notified Board resolution for companies
- Bank statements for the last 6 months (if account held with another financial institution
2
The invoice Discount Facility enables customers to bridge the debtors' gap and continue with their business activitieswhile waiting settlement of invoices
- Existing business with current on going contract and none settled invoices
- Application letter
- ID/TIN
- Contract
- Non settled invoices
Invoice Discount is a structured finance facility provided by the Bank in FRW to enable its customers to access to cash while awaiting settlement of their invoices. Maximum up to 70% of the invoice value.
- The source of repayment for invoice discount is the proceeds from the pending invoice itself.
- The facility will be settled upon receipt of funds. In the event that there are no funds on repayment due date, the RM must immediately take action.
- In all cases a second way out must be provided in the form of acceptance and easily realizable security. This may consist of the following: A registered mortgage over residential or commercial property; b. Floating charge over the operating assets of the business for the full amount of the facility; Right of Set off on deposits held with the Bank
- Bank guarantees
- Adequate insurance where applicable
- Promissory Note, Assignment of Receivables, and Joint surety of shareholders are taken.
- Facility letter signed by the customer to confirm his acceptance of the terms of the bank’s offer.
- Original invoice approved by the buyer.
- For a company:
- Copy of the company’s certified statutes and Copy of the certificate of registration
- Resolution by the Board of the company authorizing the company to borrow from the bank
- For partnerships:
- All documents must be signed by all partners (associates) or in accordance with the powers stated in the partnership deed.
- Copy of the certificate of registration must be obtained
- For sole traders:
- Copy of the certificate of registration must be obtained.
- Security documentation appropriate for the security concerned as per the Credit Policy checklist.
- A copy of latest tax clearance certificates or the current account statement with Rwanda Revenue Authority.
12
Full secured loan by discounting the invoices that have extended maturity dates to enable our clients to overcome their cash flow shortage -. Maximum 80% of invoice value
- Open account in UB
- Procurement contract, sub-contract or Purchase Order
- 20% of customer contribution
- Experience in business or in tender execution
- The invoice has to be paid through your UB account
- Automatic deduction from your account once in voice payment is made
- Loan Payment period is equal to the invoice maturity
- Finance of up to 80% of invoice proceeds
- 5 days Maximum processing period
This facility finances the acquisation of business assets, acquisation of another business, and a business expeansion or diversification.
- Business in operation
- Application letter
- ID/TIN
Financing Facilities
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