Don’t miss your opportunity to trade locally or globally due to finances
Stock financing is a trade solution that enables a trader to acquire stock for the business.
The Stock Financing product is meant to assist the traders to;
- – Pay for the various products they trade with and ease pressure on their working capital
- – Pay for the stocks on time to ensure consistency and avoid stock outs
- – Minimize diversion since payment is against invoices and made directly to the suppliers
- – Align financing with the trading cycle of the business hence ease of repayment
Feature Terms Purpose Financing traders involved in buy/sell of stock Limit Calculation 70% of average 6 months current account turnovers. Financing 100% of the proforma invoice, invoice/quotation raised by suppliers/Third parties Tenor Limit marking – 12 months
Fast Moving Consumer Goods (FMCG) – 7/14 days
Long term trade – 30-60 days
Pricing FMCG- 0.5% per week to 1% for 2 weeks
Longer trade – 2.5% per annum appraisal one-off, (CBR+4)% per month for every drawdown.
Security Security Options-tangible, partially secured & unsecured terms.
The unsecured limits will be applied as per existing policy for GOLD, SILVER and BRONZE customers as follows.
- Gold Acc – up to Kes. 10 million
- Silver Acc – Up to Kes. 6 million
- Bronze Acc – Up to Kes. 600,000.00
To bank with Cooperative Bank for a period of 6 months.
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