BUSINESS OVERDRAFT

To provide working capital for business clients.

 

Features & Benefits

  • Amount: Minimum $10,000 | Maximum restricted to single transaction limit by CBS

  • Term: On Demand

  • Interest and fees to be paid monthly

  • To conclude registered mortgages over landed assets, directors personal guarantees and Mortgage Debentures where deemed appropriate

 

Interest Rates

  • Variable

 

Fees

  • LAF 2%

 

Opening Requirements

Supporting Documentation Checklist

Please provide the following information depending on your circumstances

  • For existing businesses

- we will require the last 3 years of accountant-prepared financial statements

  • For new or start-up

- we will require a copy of your business plan, your cashflow business: forecast, and detailed assumptions of planned capital expenditure (CAPEX) over the following 12 months

  • Rental Income

- a copy of the lease agreement

- a copy of the bank statement (12 months) showing receipt of rental payment

  • All applicants

- last 12-month bank statements of any account being refinanced/repaid from the current request

  • For incorporated entities

- a copy of the Business License

- a copy of Memorandum of Assoiciation

- a copy of Certificate of Incorporation

  • For property purchases

- a copy of the signed and dated Purchase and Sale Agreement

  • For loans secured by real estate

- full property description (lot/plan No's etc)

  • For loans secured by guarantees

- signed application form from the guarantor(s)​

Important Documents

  • Business OVD Terms & Conditions

  • Business Banking Terms & Conditions

Call or Email for more info

Phone: +685 26766
Email: bcbanking@nbsamoa.com