Invoice Discounting

Invoice Discounting

Short-term borrowing often used to improve a company's working capital and cashflow position. Our Invoice discounting facility allows a business to obtain funds against its sales invoices issued to their Buyers. The buyers will be subject to an internal appraisal and financing will be up to 80%.

Loan Amount:

Up to 80% of the Invoice amount.

Loan term:

30 – 120 days

Requirements:

  • The applicant must present an authentic invoice as acknowledged from a reputable organization;
  • KYC compliance.
  • Deed of assignment to ensure that receivables/ contract proceeds are transacted through the customer’s account operated by the bank.
  • Applicant must operate an account with JBB.
  • The Invoice should not be more than 30 days from date of invoicing.

Fees:

  • Processing fees – 3%.

Interest Rate:

1.17% per month.

Security:

  • Signed letter of offer.
  • Confirmed and acknowledged Invoices.
  • Deed of assignment of receivables.
  • Duly accepted/ acknowledged irrevocable letter of instruction.
  • Board Resolution to borrow.
  • Directors’ guarantees.
  • Credit Life Insurance over the borrower

Borrowing Solutions Form

  • Your contact information

  • Borrowing Solutions

  • Date Format: MM slash DD slash YYYY
    Choose a date that is convenient for you
  • :
    Please choose a time when the branch is open for business.
USD: BUY 103.40 SELL 109.40GBP: BUY 129.30 SELL 135.30EUR: BUY 116.70 SELL 122.70