Why trust China Commercial Bank with all your Credit requirements?
- We pride ourselves towards ensuring our esteemed customers receive exceptional turnaround time for all their credit enquiries.
- All our clients shall be assured a response towards their credit requests within 7 working days from the date of application and submission of relevant documentation.
- Our ability to customize all our credit products to suit each individual client’s unique requirements.
Currently our range of credit products are categorized between Working Capital Facilities and Term Loan Facilities.
Some of the main facilities we offer include (but not limited to):
Working Capital Facilities:
- Invoice/Certificate Discounting
- Contract / LPO Financing
- Revolving Credit
Term Loan Facilities:
- Business Loans
- Asset Financing / Refinancing
- Insurance Premium Financing
Working Capital Facilities:
These are facilities that will support your business to smoothen and improve any cash flow deficits. These facilities will provide thus convenient, simple-to-operate funding to cover any cash flow requirements.
- This facility will smoothen cash flow fluctuations caused by everyday expenses or unexpected financial demands while providing convenient, simple-to-operate funding.
- The limit will be directly linked to your business current account
- You will only be required to pay interest on the amount utilized – interest is calculated on a daily basis.
- Ideal for expected or unexpected short term financial shortages.
- Tenure: maximum of 12 months with an option to renew subject to credit assessment
- Ideal for traders and manufacturers
Is invoice discounting suitable for your business?
This is a form of short-term borrowing often used to improve a company’s working capital and cash flow position.
- This facility will provide your company with up to 80% financing of the value of approved confirmed invoices or certificates.
- By receiving cash as soon as a sales invoice is raised, your business will find that its cash flow and working capital position is immediately improved.
- Maximum facility tenor of 2 months, with an option to extend for 1 month*
- Availability of the facility will be within 48 hours from the date of submission of the invoice subject to confirmation and other conditions.
- Expected proceeds of the invoice must be assigned to China Commercial Bank.
Contract / LPO Financing
This product is designed to offer you financing for the execution of contracts from China Commercial Bank approved list of companies.
- You must be the primary contractor of the Principal (not Sub-contractor).
- Loan amounts are not to exceed 70% of the estimated total cost of executing the contract The balance 30% must be evidenced as the customer’s equity contribution.
- Maximum facility tenor of 6 months,with an option to renew for a further 3 months.
- Expected proceeds of the LPO must be assigned to China Commercial Bank and duly confirmed
- Ideal for supply and construction contractors of whom face cash flow deficits to procure the necessary materials required for the completion of projects.
This product is designed to offer our clients access to fast standby short term financing of recurring cyclical trade payments.
- This product (1-3 months tenure) will enable you to gain the flexibility to draw down and repay your loans as often as you need to during the agreed term, without early repayment fees or reapplying for finance.
- This product is ideal for clients with cyclical cash flow challenges, such as VAT bills or seasonal work Ideal for Customers specializing in trading activities that require any form of urgent port/tax/clearing financing for their imports.
- Normally the facility is automatically renewed once the trade cycle is complete and a new consignment arrives at the port.
Term Loan Facilities:
This is a short / medium term facility (3 months – 60months) that will provide funding for a range of business needs, such as consolidation of existing debt or purchase of various assets to enable growth (for example plant or machinery, property) and stock financing.
This product will provide you with a very flexible way to finance up to 80% and 70% of any brand new or reconditioned asset respectively.
- Asset finance covers a variety of lending and payments solutions commonly tied to physical assets, whether this be a fleet of trucks or plant machinery etc.
- Through this product, you will be able to preserve capital and generate income from the acquired assets as the primary source of repayment.
- This brings important benefits of fixed, known costs which optimize cash flow and allow for easier budgeting.
- Maximum tenor for this facility is 60 and 48 months for brand new and reconditioned assets respectively.
- Refinancing option will only be acceptable for assets procured within 6 months from the date of purchase
Insurance Premium Financing
IPF is a loan granted to your company to pay for annual insurance premiums in advance thus eliminating the requirement for a large up-front payment to an insurance company.
- Multiple insurance policies can also be attached to a single premium financing contract, allowing for a single payment plan to cover all insurance coverage.
- The main benefit in premium financing is avoiding the opportunity cost in paying out of pocket. Clients can retain a significant amount of capital.
- Clients will be required to repay the loan over a period not exceeding 11 months.