JISLAH

Financial Services Ltd.

Wednesday, June 19, 2013

Business Loans

This is specially designed to improve the financial position of companies and strengthen their ability to carryout trading, manufacturing and supply or other commercial activities.

Our esteemed clients may choose from the underlisted range of Jislah Business loan packages depending on their needs.

Import Duties/Warehousing Loan

Under this facility, Jislah Financial pays for the custom duties and related port charges on goods for our clients. We also provide warehousing to our clients at a reasonable fee for such goods on request with full insurance cover.

Requirements

  • Copy of Import Clearing Form (IDF)
  • Inspection Report (to be carried out by Jislah)
  • Submission of a copy of the Bill of Lading as proof of goods / items to be cleared from the port
  • Copy of estimated custom duty to be paid
  • Provision of an acceptable collateral may be required
  • Provision of a form of identity (Driver's License, Voter ID Card etc)
  • Proof of identity with utility bill/ tenancy agreement if residence is rented
  • A passport size photo endorsed: name, signature, date
  • Provision of Six (6) Months bank statement

Loan Repayment

  • Maximum Loan Repayment Period is Six (6) months

Local Purchase Order (LPO) 

This is designed to enable suppliers to undertake supplies to reputable institutions.

Requirements

  • Evidence of contract/order from reputable institution and confirmation of order by beneficiary institution (Get invoices etc. to do supplies on behalf of applicant)
  • JFSL staff to be part of the supplies if no security is provided
  • Inspection of residences and places of business
  • Provision of an acceptable security/collateral may be required
  • Provision of a form of identity (Driver's License, Voter ID Card etc)
  • Proof of identity with utility bill/ tenancy agreement if residence is rented
  • A passport size photo endorsed: name, signature, date
  • Provision of Six (6) Months bank statements and sales order book

Loan Repayment

  • Maximum Loan Repayment Period is Six (6) months

Corporate Loan 

Requirements

  • Written Letter of Application on company letterhead
  • Copy of  a board resolution authorizing the borrowing
  • Provision of  Business Registration Certificate
  • Personal Guarantee by Managing Director/Board Member
  • Provision of bank Statement for the last six (6) months and sales order book
  • Provision of an acceptable security/collateral may be required (Click to find out acceptable forms of collaterals)
  • Cashflow statement of income and expenditure
  • Maximum Loan Amount is Five Thousand Ghana Cedis (GH¢ 5,000) for first timers unless otherwise approved
  • Provision of post dated cheques from applicant and guarantor from a checked out bank account.

The Managing Director and guarantor must provide and agree to the following;

  • Two passport size pictures endorsed: name, signature, date
  • Provision of a form of identity (Voter ID, Driver's License)
  • Inspection of residences

Loan Repayment

  • Maximum Loan Repayment Period is 6-12 months

J Loan 

This product is designed to provide short-term financial support to individuals and traders to enable them replenish their stock, improve their working capital, expand their businesses or carry on other trading activities.

Requirements

  • Provision of a Guarantor for the loan ( A guarantor must be a colleague trader who owns a shop)
  • Applicant must have been engaged in commercial/trading activities for at least two (2) years
  • Tenancy agreement over shop where applicant operates from
  • Provision of a collateral of 20% of loan amount payable upfront
  • Provision of sales record books

The Managing Director and guarantor must provide and agree to the following;

  • Two passport size pictures endorsed: name, signature, date
  • Provision of a form of identity (Voter ID, Driver's License)
  • Proof of identity with a utility bill or tenancy agreement if residence is rented
  • Inspection of residences and places of business
  • Provision of post dated cheques from applicant and guarantor from a checked out bank account
  • Provision of six (6) months bank satement

Loan Repayment

  • Maximum Loan Repayment Period is 6-12 months

Trade/ SME Loan

This is specially designed to improve the financial position of companies and strenghten their ability to carryout trading, manufacturing and supply or other commercial activities.

Requirements

  • Provision of a suitable Guarantor for the loan
  • Applicant must have a regular source of income from a commercial/trading activity
  • Provision of an acceptable collateral for the loan
  • Provision of sales record books
  • Maximum loan amount is Five Thousand Ghana Cedis (GH¢ 5,000) for first timers unless otherwise approved

The Managing Director and guarantor must provide and agree to the following;

  • Two passport size pictures endorsed: name, signature, date
  • Provision of a form of identity (Voter ID, Driver's License)
  • Proof of identity with a utility bill or tenancy agreement if residence is rented
  • Inspection of residences and places of business
  • Provision of post dated cheques from applicant and guarantor from a checked out bank account
  • Provision of six (6) months bank satement

Loan Repayment

  • Maximum Loan Repayment Period is 6-12 months

Microfinance (Group Loan )

Requirements

  • Group formation (5 or more members)
  • Two passport size pictures endorsed: name, signature, date
  • Orientation (Ongoing throughout the programme)
  • Registration of group member and leaders
  • Background investigation (to be conducted by Jislah)
  • Provision of collateral (20% of loan as compulsory savings)
  • First time loans should not be GH¢ 500 per person (i.e. group member)
  • Filling of loan application forms
  • Provision of a guarantor
  • Guarantor must fill a guarantor form and file an affidavit if loan is GH¢ 2,000 and above

Repayment

  • Maximum Loan Repayment Period is 6 months
  • Repayment may be weekly, bi-weekly and monthly depending on the cycle of loan

Project Financing

We provide top up funds to Real Estate Developers/Investors in order to enable them to complete their projects or to get their projects to income generating levels.

Requirements

  • Two passport size pictures of principal applicant & two (2) directors endorsed; name, signature, date
  • Provision of form of identity (New Driver’s License, Voter ID card, National Identification Card)
  • Provision of six (6) months Bank Statement
  • Cash flow statement of income and expenditure
  • Provision of business registration certificates including Form ‘A’
  • Board Resolution authorizing the company to borrow
  • Provision of building Permit
  • Detailed program for the project
  • Company’s succession plan (if applicable)
  • Provision of security/collateral for loan, either from applicant or guarantor
  • Personal Guarantee by Managing Director & Board Chairman /Board Member
  • Inspection of residences, business places etc
  • Payment of 3.0% (or any approved amount) up front charges (Facility & Processing fees) by applicant.
  • Collection of post dated cheques from applicant & Guarantor from checked out Bank Account.