SME Facilities
Collaterals/Support Accepted to BCN
- Cash collateral: 110% (of principal plus interest) if same currency, 120% if different currency, 120% USD vs. LBP deposit with a spread of 2% on same currency and prime rate on different currency
- Personal guarantee
- First-degree real estate mortgage
- Proxy to mortgage
- Life and PTD insurance on key manager
- Fire and theft insurance
- The Credit Committee has the right to ask for any other collateral as per the client’s credit profile
Documents Required
- Copy of ID or passport, or extract of civil status
- Proof of residence
- List of real estate properties as per BCN’s template along with copies of title deeds and real estate certificates
- Quittance letter from NSSF
- Documents for liberal professions
- Personal net worth statement as per BCN’s template
- Bank statement of accounts for the past 12 months
- Documents for guarantors same as borrower
- A copy of ID
- Extract of civil status of the guarantor(s)
- Documents proving the place of work (lease or investment contract, copy of title deed, etc.)
- Financial statements for the past 3 years audited (presented to the Ministry of Finance)
- Company’s commercial circular
- Company’s bylaws
- Commercial register certificate
- Extract of commercial register (recent)
- Copy(ies) of minutes of most recent meeting(s) of General Assembly and Board of Directors (as and when applicable)
- Licenses for business wherever applicable
- CDR
- The Credit Committee has the right to ask for other documents on a case by case basis
Eligibility
- Business existing for at least 3 years
- Legal status: Individual Establishment, Partnership, Limited Liability Company, or Limited Partnership
- Clean judicial record