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Step Wise Process/Procedure of Financing
Customer approaches the Branch and requests for credit facility.
The Branch assesses the eligibility & the business requirements of the customer and recommends a suitable financing solution along with a complete list of documents required for processing the credit request.
Upon submission of required documentation by the client; the branch forwards the financing request along with necessary documents to Head office.
Head Office reviews the credit request in light of SBP PR’s, Shari’a guidelines & internal credit risk policy of the Bank and communicates its decision to the Branch.
Upon approval of credit request; the HO releases the Approval advice, Facility Offer Letter, Shari’a Process Flow, Financing Documents & list of Security Documentation in line with the Approval.
The Branch coordinates with the client for signing & acceptance of the aforementioned documentation and submits the same to Head Office.
If the submitted documents are in line with SBP PR’s & credit approval including security documentation/formalities; Head Office releases the credit limit and disburses funds as per the terms and conditions outlined in the Approval & Shari’a Process Flow.
REQUIRED DOCUMENTS:
PROPRIETORSHIP CONCERN:
• CNIC copy of proprietor. • Request for credit facility on letter head. • Basic borrower fact sheet duly signed & stamped on each page by proprietor. • Sole Proprietorship Declaration. • Personal net worth statement of Proprietor. • Last three years financial statements signed by Proprietor. • Company Profile. • Latest stock report. • Latest ageing of receivables. • Last six-month bank statement with other banks.
PARTNERSHIP CONCERN:
• CNIC copy of all partners. • Request for credit facility on Letter head. • Basic borrower fact sheet duly signed & stamped on each page by authorized signatories. • Personal net worth Statement of all partners. • Last three years Financial Statements signed by authorized signatories. • Company profile. • Latest stock report. • Latest ageing of receivables. • Last six-month bank statement with other banks.
PRIVATE LIMITED COMPANY:
• CNIC copy of all directors. • Request for credit facility on Letter head. • Basic borrower fact sheet duly signed & stamped on each page by authorized signatories. • Board resolution. • Form A • Latest form 29. • Memorandum of association (MOA) & Article of association (AOA). • Certificate of Incorporation (COI). • Personal net worth statement of all directors. • Last three years financial statements signed by authorized signatories. • Company profile. • Latest stock report. • Latest ageing of receivables. • Last six-month bank statement with other banks.
This page was last updated on: November 13, 2017 5:50:05 PM
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