About Invoice Financing
MTB Bank offers invoice financing, where either the seller or the buyer can apply for a certain percentage of the balance due/receivable on the invoice as a loan.
Loan Amount | Loan Tenor | Interest Rate | Service Charges |
80% of Invoice | Invoice payment term
Maximum 1 year |
12% to 15% | With Collateral – 1%
Without Collateral – 2% |
Requirements
- NRC
- Passport Photo
- Household Member List(Form 6/66)
- Ward Recommendation Letter for Living address
- Business license.
- DICA certificate of incorporation and company extract, company constitution Resolution, Import/export license.
- BOD Resolution, Company Profile (for exceptional case).
- Receipts of income tax for the last 3 years (if applicable).
- Financial statements for the last 3 years.
- Business Plan for Loan Purpose.
- Evidence for Ownership Documents
- Creation of Title deeds documents
Note:
Depending on the purpose of the loan application and the type of business, additional documents may be required