Corporate Banking
Services you can depend on
Overdraft Facility
With this facility we provide financing to corporate, middle corporate, and retail customers to meet cash flow needs. This facility ensures that the customer will have cash available at all times whereby interest is only charged on overdrawn balance.
Benefits:• Flexible repayment options
• Competitive interest rates
• Improve share wallet
Asset Finance / Equipment Loan
This facility is aimed at supporting a customer to acquire assets to support business growth. We finance up to 70% of the price of the equipment the customer needs. The customer must have tangible security in addition to the equipment to be purchased.
Features:
• This facility is available for purchase of heavy duty machinery, civil works equipment and other type of machinery.
• Intended Suppliers/Vendors of the Assets are authorized reputable agents of any internationally recognized brand.
• We finance a maximum of 70% of the cost of the asset acquired with the client funding the balance.
• A maximum of forty-eight (48) months to give flexible repayment terms and conditions to customers. Moratorium period of three (3) months maximum, to cover re-ordering period and commissioning of the asset/plant.
• It is important that the asset being financed will be used to enhance the productive capacity of the existing business or improve level of service delivery of an existing enterprise.
Benefits:
• Enables customer to acquire assets when required
• Flexible installment payments to fit the customer's cash flow
• Flexible payment periods
• Enables the customer to use the assets to generate cash flow to run the business
• No additional security required
Requirements:
• Proforma invoice and/or valuation report
• All shipping documents to be consigned directly to the Bank
• Assets registration documents to be retained by the Bank
• Proof of reasonable demand for the goods/established operation
• Evidence of minimum of 30% commitment for purchase of asset
• Additional documents and information may be required if deemed necessary
Collateral Management
This is a special credit facility in which the security is purely the stock of the company. We manage the collateral of the customer in the absence of formal security to guarantee a loan. By using this product, the customer not only enjoys the credit facility but also benefits from tight control of stock management.
Features:
• This facility is suitable for fast moving stocks
Benefits:
• Enables the customer finance his/her transactions
Short and Medium Term Loans
The loans target businesses already in operation. We offer the facility to support various business needs such as business expansion, cash flow needs, etc.
Invoice Discounting
This facility is a special type of overdraft which mainly targets fuel transporters and other reputable companies. The bank ensures that cash flow is constantly available by establishing a special line of credit to finance the gap when the invoice payment is delayed by the other party.
Products and Services
BANK OF AFRICA TANZANIA enforces management standards and policies in the areas of ethics, anti-money laundering, conflict of interest and corporate governance.