Port Moresby - 7411 1045

Lae - 472 0600

Buka - 973 9000

Mt Hagen - 542 0406

Temporary Mobile numbers - 7941 7624, 7572 4756, 7444 0624, 7337 9706

Features:

Purpose:Finance of any primary income producing asset associated with your business. Primary assets include but not limited to:

  • Motor Vehicles
  • Forklifts
  • Office Equipment
  • Generators
  • Light commercial vehicles

Amount : Up to K500,000.00 Term : Maximum term 36 months Application Fee : Waived Security Fee : K250.00 Interest rate : Competitive rates provided Repayment : Monthly in advance Assessment and Decision: within 72 hours of receipt of all required information

Application requirements:

  • Last two years signed financial statements
  • Year to date Management Accounts up to at least 30th June 2019
  • Accountants letter confirming that Salary and Wages tax and superannuation contributions are current
  • Asset and Liability statement for all Directors and shareholders holding more than 30% interest +
  • Last three months Bank Statements on trading account +
  • Last three month loan and lease statements +

+ Not required for corporate customers defined as applicants with minimum K500,000 in monthly sales.

Application Pre-qualification

  • Clear Credit history on the borrower, Directors and shareholders holding more than 30% interest +
  • Must have been trading for 5 years
  • Last two years must have traded profitably (non-cash add backs allowed)
  • Debt Service Charge Coverage of 1.35x calculated as: EBITD/Debt Service Charge
  • As a minimum Directors and shareholders holding more than 30% interest must provide a personal guarantee +

+ may not be required for listed companies or major corporate clients depending on lending risk profile.

Asset Details

  • Copy of Quote or tax invoice for the asset being purchased.
    • Invoice must be in the full legal name of the borrower
    • Invoice must give a full description of the goods including make and model and whether goods or new or used
    • Invoice must include asset identifiers such as:
      • Serial Number
      • VIN/Chassis
      • Engine Number
  • Asset must be insured and policy must note the interest of National Finance Limited

How to Apply

Either email your application to: businesslending@nationalfinance.com.pg OR lodge in person at our Head Office located in Kunai Street Hohola (opposite from RSPCA).

Apply Now