Check Collateralized Loan
If you will ask for a short-term loan to meet your business needs, every bank shall request real estate collateral which undoubtedly is a financial cost and time for your business. Meanwhile, BKT can support you and your business partner to deal with business transaction by the usage of cheques. Cheque collateralized loan is a financing short-term method to be used whenever the customer presents a post-dated cheque to be discounted before its maturity.Target Group: The customer can be either existing or new customer of BKT, under the following group: Existing Credit Customers (Corporate & Commercial), Existing Operational Customer, New Customer (selective) with good financial position. The targeted customer should deal mostly with wholesale or retail trade, manufacturing, or production activities.
General Conditions:
- Loan Purpose: Working capital/ Purchase of inventory, raw materials/Purchase of Equipment
- Loan Amount: up to 80% of the cheque Amount
- Cheque Coll. Loan Maturity: Max. 6 months renewable upon any new Cheque presented.
- Limit Maturity: Max. 12 months
- Interest Payment: At the time of discounting the check.
- Principal payment: It is paid when the check matures.
- Collateral: Post-dated Cheque- up to 6 months.