I once applied to Stanbic IBTC Bank auto purchase loan facility. I was told they will get back to me. It's more than a year now, still nothing. So which banks finance this policy and what are their minimum requirements?
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Which Banks faithfully finance Auto purchase?
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Stanbic IBTC actually have 2 types of Borrowing or Auto Financing Plans. On their website, there's actually 2 links.
- For SME's See Here.
Requirements for SME's:
- Full names and capacities of those who will sign the finance deal.
- CV of each member of the management team.
- The reason you need the finance.
- Your business' financial statements, including an income statement, balance sheet and cash flow statements.
- Personal statements of assets and liabilities of all the partners, members or directors.
- A 12 month cash flow estimate.
- The amount of your own contribution and the source of the funds.
- If you do not have a business account with Stanbic IBTC Bank you must provide the business' bank statements for the past six months.
- For Individuals See Here
Requirements for Individuals:
- A completed application form
- A proforma invoice from one of our approved dealers
- Evidence of salary domiciliation or proof of income.
I think one of the major requirements is salary domicilized at the Bank. It might be difficult for any bank to give out loan of any kind without having any form of collateral.
Maybe you can try RenMoney @ RenMoney
- For SME's See Here.