Term Loan
Product Name
Term Loan
Highlights
A loan from a bank for a specific amount that has a specified repayment
schedule and a floating interest rate.
Features
- Higher loan amount;
Longer loan repayment period, mostly medium-or long-term loans and install-repayment;
Fixed assets as collateral is normally required in addition to the necessary pledged security;
Fixed tenure of repayment.
Application requirements
Valid registered companies;
Justification for the application of the facility and a clear source of repayment;
Good credit standing of the applicant, strong ability of repayment and sound administration system;
Satisfactory collateral,
Maintaining a deposit account with the bank;
Project approval by the government and other supporting documents;
A sale and purchase contract,
Projects consistent with the Bank's credit policy.
Documents Required
- Letter of application for the facility stating
a. Type and loan amount required
b. Purpose of the loan
c. Tenure
- Business Registration Form (Form A/B) duly certified as true copy by the Company Secretary
Certificate of Incorporation (Section 17) duly certified as true copy by the Company Secretary
Notice of Registration of Company (Section 15) duly certified as true copy by the Company Secretary
- Constitution of a Company (Section 32) certified as true copy by the Company Secretary, if applicable
Audited accounts for the last 3 years and the latest management account.
Brief history and background of the company or Company Profile
Photocopy of Directors & Guarantor’s IC
- Any other related documents as may be required by the bank