Import Finance is offered to the importer for payment of bill under import of Credit opened through Machhapuchchhre Bank and / or import bills under collection received through Machhapuchchhre Bank. Import finance is offered to meet the running requirement of working capital and the loan amount can be up to 80% of the value of import bill.
Tenure of this loan shall be for a maximum period of 120 days. Interest on this loan is charged on quarterly basis and upon maturity.
To avail this facility, you are required to obtain Import Finance / Trust Receipt limit, for which you are required to submit the following documents.
Documents Required:· Financials Statement of last three years (Cash Flow Statement, Balance Sheet, Profit & Loss Account), if applicable.
· Projected Financials for current and future two years (Cash Flow Statement, Balance Sheet, Profit & Loss Account)
· Profile of Company and its Director(s) or Firm and its Partners / Proprietor.
· Registration documents of the company / Firm (renewed, as applicable).
· Recent statistics of Production, Sales, Stock and Book Debts (as applicable).
· Loan Application Form Download.
Security Requirement:· Trust Receipt Agreement.
· General Letter of Hypothecation, where current assets are hypothecated.
· Personal Guarantee of Directors / Partners / Proprietor.
· Promissory Note and Loan Deed.
· Mortgage Deed, where mortgage over Fixed Assets.
Other terms and conditions will be as decided by the bank from time to time.
For more details, please contact to Credit Department in any branch of Machhapuchchhre Bank Limited.