TRANSACTION PROCEDURE AND STEPS TO SUCCESSFUL ACQUIRE A BUSINESS LOAN @4% P/A
Note: The Lender shall carry out Financial, Corporate and Due diligence investigations on the applicant’s company and after the successful investigation and confirmation of the authenticity of the applicant ‘s company and identification by our verification team, The Lender, Investor and Borrower shall execute, sign, and initial the Deed of Agreement, which thereby automatically becomes a full commercial loan contract to be lodged by both parties.
Applicant provides a copy of the loan application letter that will be addressed to OUR LEGAL DEPARTMENT and copies of business plan, We will inform you within 1 to 3 business days if your business plan or project is in line with the category of our kind loan investment program then the applicant can move to the next step.
Within (3) banking days after approving the loan application letter and business plan, applicant will send the following documents to Legal team (A.) A copy of international passport or any government valid ID, (B.) List of owned assets (If available), recent bank statement, (C.) Recent utility bill showing office address, (D.) Good standing, (E). complete a Customer Information Profile (CIP) form, (F.) Signed copies of this procedure document and (G.) Copies of company registration/Incorporation for authenticity and eligibility check process.
Within (5-10) banking days after the legal team fully verified and approved the applicant loan documents to eligible and authentic, depending on the nature of business/project and the value of loan required, we will schedule an online conference video call meeting with the loan applicant or Broker, company director/financial officer, representatives, or any of the company’s board of directors to discuss more of the approved projects hereby building a good business relationship.
Within (3) banking days after a successful and conclusive meeting with the applicant or its company representative, the lender will send a full corporate loan contract to be completed and countersign accordingly hereby making the loan transaction fully and legally validated.
Within (2) banking days after the applicant has successfully complete and send back countersigned loan contract copies, We will send a copy of payment invoice to the applicant make 80% of the total processing fee for Credit Insurance deposit in the approved project investor’s banking coordinate and a refund undertaking letter duly endorsed by our Chief Finance Director in case any unforeseen circumstance or delay from our assigned project investor…We will refund 100% of the credit insurance deposit plus 20% penalty for loan contract default as agreed, the balance processing fee of 20% will be paid by the lender.
Within (5) banking day after the applicant receives the payment invoice and refund guarantee letter, The applicant will make the bank wire transfer via MT103 the 80% credit insurance for the value $XX,000,000.00 to the investor and send payment receipt for confirmation.
Within (3) banking days after the investor/lender confirms the applicant credit insurance deposit, The project investor will make the wire transfer via MT103 the agreed loan value for the sum of $XX,000,000,000.00 to the applicant provided bank coordinate stated in the loan contract.
Loan Terms
Loan Tenure: 5 years + 1 year moratorium
Interest Rate: 4% per annum
Repayment: Principal repaid in full at the end of the tenure.
NOTE:
1 The Maximum term of duration for the business Loan shall be 5 Years with an annual interest rate of 4% per annum.
2 Any unauthorized calls by any party or its representative Lawyers/Business partners to probe or communication in an improper way to Bank(s)/Intermediaries in this transaction shall be prohibited and DOA contract terminated.
3 Providing our legal team with fortified and unauthentic loan application documents is a criminal offence (fraud) and legal actions will be taken upon such an act.
4 We will be glad to offer 1 year moratorium (a legal authorization to debtors to postpone payment).
5 Any private contact, meeting or communication by the applicant, Lender or Investor or their representatives to the Bank without the awareness of all parties in this transaction shall be prohibited and DOA contract terminated.
6 Loan Amount will be paid in 2 tranches, the first tranche will be paid as working capital, after the first tranche is paid our inspection team will visit the project site, 6 months later the second tranche will be paid.