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VBS Mutual Bank Business Loan

VBS Mutual Bank Business Loan

VBS Mutual Bank Business Loan,

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Overdraft is a convenient facility loaded to an existing or new client. This means that client has the convenience of borrowing on the same account that is used for the daily banking transactions.

Benefits:

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  • An overdraft provides you with cash for unplanned expenses
  • An overdraft will provide you with the comfort of knowing that you have instant access to extra cash for emergencies
  • You can use as much of your agreed overdraft limit as you need whenever you need it. The total limit is always available to you for use
  • Monthly deposit/s into your account are required

Overdraft Qualifying Criteria

  • Have a VBS Mutual Bank account which is either currently open and FICA’d or opened at the same time as the overdraft application
  • Proof of residence
  • Company Registration Documents
  • Annual Financial Statements
  • Latest Management Accounts
  • Valid Tax Clearance Certificate
  • Have an acceptable credit record and risk profile

 

Asset Finance

We offer a full range of products which includes:

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  • Instalment sale
  • Leasing and rental
  • Full maintenance leasing
  • Off-balance sheet financing
  • Loan term up to 5 years

Asses Finance Qualifying Criteria

The following are the minimum qualifying criteria:

  • An agreement must be signed between the corporate/SOE/government department and the borrower
  • An agreement must be signed between the borrower (client) and VBS
  • The borrower needs to supply goods and/or services
  • Proof of trading history between the borrower’s supplier and the corporate/SOE/government department must be furnished where applicable
  • The borrowing entity/company MUST open a business account with VBS
  • The issuer of contract/purchase order must be reputable; preferably blue-chip / JSE-listed companies, State Owned Enterprises (SOE’s) or government departments and MUST be willing to validate/confirm the contract / purchase order
  • The order/contract must be commercially viable and legally binding
  • Supply agreement/quotation must be in place where applicable
  • Cession of proceeds from the contract/purchase order to VBS Mutual Bank

Call Centre Number

011 037 5440
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Email:[email protected]

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