Invoice Discount Facility


Product Description

Full secured loan by discounting the invoices that have extended maturity dates to enable our clients to overcome their cash flow shortage.


Features
  • The invoice has to be paid through your UB account.
  • Automatic deduction from your account once in voice payment is made.
  • Loan Payment period is equal to the invoice maturity.
  • Finance of up to 80% of invoice proceeds.
  • 5 days Maximum processing period.

Benefits
  • Flexible invoice facility.
  • TAT of 5 days.
  • Financial facility of short term while waiting for the invoice payment.

Requirements
  • Application letter.
  • Contract or purchase order related to the invoice.
  • Invoices to be discounted.
  • Company Registration Certificate/ID copy of the applicant and his guarantor.
  • Legal status certificate.
  • RRA Tax Clearance Certificate.
  • Valuation report of collateral (done by a valuer which has a partnership with UNGUKA Bank Ltd).
  • Collateral title (land, factory, car etc) and movable security documents.
  • Act of lending property if the collateral doesn’t belong to the borrower.
  • Invoice payment domiciliation.
  • Notified Board resolution for companies.