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Basic Requirements To Obtain Credit Facilities |
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- Formal application stating the amount, tenor, purpose, proposed source of repayment or schedule of repayment and proposed collateral/security being offered for the facility
- Board resolution authorizing the facility request from Summit Finance Company limited. Such a resolution must state the amount, purpose, tenor and appoint or mandate a top management officer of the company to liaise with SFC management on the facility. Such a resolution must be sealed, signed by the company Chairman/Chief Executive and Secretary/Director.
- Enclose copies of your statutory documents and books (with originals for sighting) in the application. These include;
- Form Co7
- Certificate of Incorporation.
- Memorandum and article of Association
- Latest Tax Clearance Certificate
- =N=10,000.00 search fee for status verification at Corporate Affairs Commission, Abuja
- Latest audited financial statement not more than one year old.
- Management account for the last 6months duly signed by a Director and Head of Accounts.
- Project executive brief supported by feasible cost benefit analysis that should show clearly the profitability or returns on the project to be funded.
- When there are third parties to the project, copy of Memorandum of Understanding MOU reached by the parties must be forwarded to us.
- Where the project is an Local Purchase or Job Orders original copies of such orders must be forwarded to us.
- Two passport photographs of the Company Chairman/MD and such other officers authorized to represent the company on the facility request must be forwarded to us alongside their application.
- Signature cards for the authorized signatories to the facility must be completed in presence of an officer of SFC credit department.
- Where a property is being proposed as collateral originals documents of the property must be forwarded plus = N=20,000 search fee for Lagos properties or as the case may be for properties in other locations.
- Where shares resident in another house is proposed as collateral such share holding must be moved to Summits depository or into a Lien Account with CSCS limited.
- Please enclose any other details/information that may aid the appraisal of the loan facility request. e.g. Management profile and other corporate details
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Online Loan Analysis |
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