BUSINESS TEMPORARY OVERDRAFT

To meet short term gaps in business cashflow

 

Features & Benefits

  • Amount: Minimum $1,000 | No Maximum amount but limited to outstanding debtors / source of clearance

  • Term: maximum of 60 days

  • A defined and time-bounded clearance source must be provided

 

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 Temp OVD Terms & Conditions

  • Business Banking Terms & Conditions

Call or Email for more info

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