KINA BANK - SME UNSECURED LOAN

Description: An Unsecured loan for businesses related purposes tailored to help supportlong term growth for Small Medium Enterprises Loan purpose: Business growth investment purposes

Prime security: Unsecured, no security required 

Loan amount: K50, 000 to K100,000

Minimum term: 1 year - 7 years. Term to align with the loan purpose and life of asset being financed.

Interest rate 4% p.a.

Repayment frequency: Monthly

Loan Establishment Fee; K2,000

SME Loan Line Fee: 0.30% p.a. of the Outstanding Loan Balance, charged quarterly (Min. charge K75 per quarter)

Minimum Eligibility Requirements 

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✔PNG owned company/business – business must be 100% citizen owned.

✔Maximum Turnover PGK5mil p.a.

✔Minimum 2 years trading (validated by bank statements and other documents such as tax returns)

✔12 month projections with assumptions

Effective July 2021

Things you need to know:

❗Applications are subject to Kina Bank’s normal credit approval.

❗The minimum loan term is 1 year. 

❗ Full terms and conditions will be included in the loan offer. 

❗Fees and charges apply and are subject to change without notice.

Fees removed by Kina Bank include:

✔Upfront Application Fee-K200

✔Documentation Fee-K150 per loan

✔Cheque Processing Fee- K200 per Loan (up to 5 cheques). Additional cheques K50 each

✔Inspection Fee-K300 per property

✔Drawdown Fee – K200 per Drawdown

✔SME Loan Maintenance Fee- As Advised, Charged Monthly (Min. charge K350 per month)

✔ Settlement Fee- K200 per Loan

✔ Discharge Fee – K500

Will post the requirements for KINA BANKS SME BUSINESS SECURED LOAN ANYTIME THIS WEEK

GOOD LUCK!!

#PNGSME 

#POWERING_POTENTIALS