Business Loan

1. Order Financing: SMEs with orders from established Corporates can obtain short-term credit of 30 to 90 days to fulfill their supply contractual obligations.
2. Invoice Discounting: SMEs that have already supplied goods and services to Corporates can get an advance against the amounts payable by the Corporate to meet their short-term needs.
3. Term Loans: SMEs with proven track records and regular cash flows from reputable organizations may qualify for a short-term working capital loan ranging from 1 to 12 months.

Loan Application Process:

1. Step 1: SME supplier/contractor approaches CMTech for funding.
2. Step 2: CMTech Cash Advance confirms KYC with the SME and documentation is reviewed.
3. Step 3: Credit appraisal is conducted.
4. Step 4: Management credit committee approves the facility.
5. Step 5: Security perfection with lands, PACRA, & RTSA is undertaken and finance is advanced to the SME.

Requirements:

• PACRA documentation
• 12 months Bank Statements
• Directors KYC
• Copies of orders, Invoices, and supply Contracts
• Acceptable Security

Acceptable Security:

• For loans up to K50,000 – Motor vehicle (comprehensively insured)
• For loans above K50,000 – Landed property

These products are available to SMEs that provide services or goods to established Corporates with a signed Memorandum of Understanding (MOU) with CMTech Cash Advance. This MOU facilitates the payment of CMTech loan repayments directly from the off-taker.

Application and Loan Process:

1. Corporate Signs MOU with CMTech.
2. SME Applies for Loan and Credit Appraisal is Conducted.
3. CMTech Reconfirms Invoices/Supply History with Corporate.
4. Assignment of Receivables by SME to CMTech.
5. Financing Advanced to SME.

Repayment Until Maturity:

1. CMTech makes submission of amounts due to Corporate.
2. Corporate pays CMTech full invoice value.
3. CMTech deducts loan amount and remits the balance of funds to the borrower.
4. Loan closed off.