Asset Financing Loans

 
Asset financing service, At Glotrans Financial Services we provide this product to businesses to obtain the equipment they need to grow.

PURPOSE
- To buy assets like land or business equipment

TERMS AND CONDITIONS FOR ASSET FINANCING
1. MAXIMUM AMOUNT: SHS 100,000,000(One hundred million shillings)
2. MAXIMUM PERIOD: 36 months
3. INTEREST RATE: 5% reducing balance - Negotiable for clients who are taking bigger loans.
4. TYPE OF COLLATERAL NEEDED:
i. Land sales agreement shs 500,000 – 5millions
ii. Asset Purchased is a collateral
iii. Land title – shs 1M -100MILLION
5. CLIENTELE CATEGORY: individuals both employed and self-employed, companies.
6. GUARANTORS NEEDED: 3 guarantors including spouse
7. SECURITY EVALUATION:
i. Search on both land title and car log book to be done,
ii. Boundaries must be opened and valuation reports (loans of 5million and above).
iii. Values of securities must double loan amount approved to the client.
iv. If someone has bought an asset and has paid 30% of the cost, Glotrans can pay the 70% and take this as security for the loan. Security is bought in names of Glotrans and after the client has completed, the security can be transferred to the clients names