Overdraft

Is a Financing provided to corporate and SME customers to meet cash flow needs? This facility primarily bridges the gap between customers and suppliers.
Features
- Minimum loan amount of Rwf 100 thousand
- Repayment period of 12 months or less 6 months
- Requirements
- Turnover of not less than 5 times of requested amount /
- Repayment capacity of 35%
- Collateral – legal mortgage (preferably), cash cover, corporate guarantee (for very structured companies)
- Open an account at BANK OF AFRICA in Rwanda
Benefits
- Ensures that the customer will have cash available at all times
- Interest is only charged on amount overdrawn