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