Where you have receivables from quality companies and they have issued you a bill of exchange with maturity of up to a couple of months as their payment guarantee, while you need funds immediately to continue your business operations, the Bank can offer to discount such bills and meet your needs for working capital, and then collect the amount granted on the bills' maturity date.
Discounted amount
Depending on the creditwortiness of the bill's issuer
Purpose of the loan
To improve liquidity
Availability of funds
Payment of the discounted amount minus the Bank's fee and interest from discounting date to the bill's maturity date in favor of the account held by the bill holder at the Bank
Repayment term
In accordance with the bill's due date, but not later than 12 months after the approval date
Interest rate
Depends on the client's credit capability and creditworthiness and the client's volume of operations with the Bank
Guarantee instruments
- Bills of exchange and IOUs issued by the bill holder
- Other instruments, as required by the Bank
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