Port Moresby - 7411 1045

Lae - 472 0600

Buka - 973 9000

Features:

Purpose: Any worthwhile Business related purpose

Amount: Up to K500,000.00

Term: Maximum term 36 months

Application Fee: 0.5% of the amount approved

Security Fee: In the range of K250.00 to K1,000.00 depending upon the complexity and structure of the security

Interest rate: Competitive rates provided

Repayment: Monthly in in arrears

Interest Only: A period of interest only is available within the overall approved loan term

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 +

+ May not be 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 +
  • Last two years must have traded profitably (non-cash add backs allowed)
  • 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.

Application requirements:

  • If available year to date Management Accounts up to at least two months prior to application date (Mandatory for any unsecured loans).
  • 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 +

+ May not be required for corporate customers depending on risk profile.

Application Pre-qualification

  • Clear Credit history on the borrower, Directors and shareholders holding more than 30% interest +
  • Must have been trading for 3 years
  • Last two years must have traded profitably (non-cash add backs such as depreciation are 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.

Security

Generally Business Term Loans are a secured facility however for financially sound companies with a strong trading history unsecured loans will be secured.

If security offered is a motor vehicle then the maximum loan is 60% of the value of the vehicle as determined by a reputable licenced motor dealer.

Borrower will provide:

  • Current registration papers
  • Valuation from Licenced Motor Dealer
  • Evidence that vehicle is comprehensively insured, policy should note interest of National Finance Limited

NF must check on PPSR that vehicle is not already charged to another person or corporation.

If the security offered is landed security then the maximum loan is 70% of the valuation of the property from a licenced valuer who must be an accredited panel valuer with one of the commercial banks.

Borrower will provide:

  • Original of State Lease (unless loan is to refinance existing mortgage debt)
  • Sworn valuation from commercial bank accredited valuer addressed to National Finance Limited “for mortgage purposes”
  • Copy of current fire insurance policy for the secured property, policy should note the interest of National Finance Limited

NF will conduct title search to confirm registered owner of the property and any prior encumbrances.

How to Apply

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

Apply Now

AUTOMATIC APPROVAL FOR ALL GOVERMENT + APPROVED PRIVATE SECTORE EMPLOYEES WITH SUFFICIENT NET SALARY.