KCBL TRADE LOANS allows the customer to borrow money from the bank as a working capital and repay the money back with flexible repayment installment schedule every month.
Benefits Of KCBL Trade Loans:
• Low interest rates.
• Regular Flexible repayment schedule.
• Simple and open procedures.
Conditions And Requirements For Trade Loans:
• The customer must have an account with KCBL e.g. savings account.
• The customer must have an existing business.
• Loan application letter.
• Member/ Board Resolution to borrow (in case of groups, companies and co-operatives).
• Audited financial Statements for the last/previous financial year.
KCBL TRADE LOANS are provided to all economic sectors in Kilimanjaro region such as:
• Agriculture sectors.
• Transport and communication.
• Social (Education, Health).
• Building and Construction.
• Financial Intermediaries.
• Tourism (Hotels, Restaurants)
GENERAL REQUIREMENT TO OBTAIN A CREDIT FACILITY
A KCBL customer who has a desire to apply for a loan in the institution must fulfill the below requirements before writing application letter.
• Must have at least 3months well serviced saving account according to his or her business operations.
• Must have a continued/existing registered business/economic project.
• Must have a collateral (registered immovable property /house with deed) to secure his/her loan.
• Must have good history in other Financial Institutions.
• Visit to his /her business site and collateral.
Coupled with the above requirements later the client will need to submit the following documents:
• Audited accounts of his business
• Valid insurance for his/her collateral /property.
• Land rent for his/her collateral
• Fill the Spouse/Owner’s Consent form
• Register his /her collateral in favor of KCBL.
Without delay, a client will get the loan as soon as possible after he/she completed the above requirements and documentation.