- Asset Based Finance
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1. What is Asset Based Financing?
In asset based financing, the asset purchased becomes the collateral for that facility.2. What kind of assets can a business acquire using DIB Asset based Financing?
If an asset is identifiable by registration number or serial number, then we can finance it! Array of assets includes to name but a few ; motor vehicles, Trailers, Earth moving equipment, construction Equipment, Machinery, Pickup Trucks, Motor Vehicles, Light industrial Plants, Milling, Lifting Equipment, Mineral water processing …, Meat processing …, Light Automotive Engineering …, Quarry equipment, Food processing …, shoe manufacturing … etc.3. What portion of the purchase price will I be required to raise?
DIB will finance up to 80% of purchase price for motor vehicles and 50% of purchase price for machinery.4. What are the requirements for applying for Asset Based Financing?
To apply for Asset Based Finance you will need to complete a Business Facility Application Form and submit alongside other business documentation as indicated on the requirements checklist available at our branches. Our dedicated relationship managers can guide you through the process. - Business Mortgage
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1. What is the objective of SME Mortgage finance?
The purpose for SME Mortgage is to finance self-employed people and businesses for to acquire developed residential and commercial properties in urban areas.
2.What portion of the cost will the bank finance?
DIB Mortgage Finance will cater for up to 80% purchase price of commercial and 90% of residential property. The customer will be expected to raise the other portion before the bank funds are released.
- Commercial Property Development
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1.What is covered under Commercial Property development?
This financing is for individuals and companies in need of completing commercial buildings for sale or rent. These can be single or multiple dwelling units for resale, rental or both
2.How much of the total cost will the bank finance cover?
Facility for commercial property development covers up to 90% of the construction cost.
- Stock and working capital finance
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1. Which businesses are eligible for stock and working capital facility?
If your business holds stock for resale or processing then this facility will suit you. Some of the target businesses include; Bakeries, Retailers/wholesalers, Contractors, Petroleum dealers, Stockists, Pharmacies, Flour Mills, Motor Dealers, Spare parts dealers, Grain Merchants etc. The above are only examples and the list is not exhaustive.
2. What can working capital facility be used for?
Working capital finance can be used for a variety of purposes ranging from paying salaries, purchasing of stock, paying for advertisement/marketing, expansion into new regions. This facility can help your business get ahead of competition.
3. What is the repayment period for working capital financing?
The repayment period depends on the trading cycle of the business. Thus, it varies from one type of business to another. We can guide you on an appropriate financing term for your type of business.
- Contract Financing
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1. What is contract financing?
This solution offers financing to companies to enable them undertake projects or tenders issued by the government or reputed companies. The financing covers both tenders for supply of goods or construction projects.
2. Which businesses qualify for contract financing?
If you are a reputable business with a track record of successfully undertaking similar projects as the one financing is sought for, then you are the partner we are looking for.
3. What is the repayment period for financing obtained?
The repayment period will be dependent on the nature of project undertaken. However, the period will revolve around 90 days.
- Medical Practitioners financing
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1. What kind of financing can I get as a medical practitioner?
Our financing product for medical practitioners enables health practitioners acquire medical equipment, hospital premises through mortgage, auto finance or even funding of day to day operations through working capital financing.
2. Who is eligible for financing under this products?
Financing is available to private medical practitioners, private hospitals and mission hospitals in need of equipment and other facilities related to their operations.
3. Can I be financed to buy used equipment?
No. Our scheme finances only purchase of new medical equipment.
