Republic Professional Loans

TOTAL FACILITIES	Up to $250,000 to new and existing small businesses owned by professionally qualified persons
PURPOSE OF LOAN	Start Up Working Capital needs Machinery, Equipment & Other Fixed Assets Acquisition on enhancement of factory and office facilities
LOAN LIMITS	Working Capital Overdraft or term loan - 5% - 8% of estimated annual sales /income Revolving Loans - up to 75% of working assets. Machinery/Equipment/Fixed Assets - maximum 75% of cost
TERM	Maximum 7 years for Fixed Assets. Overdraft - on demand with annual review. Revolving Loans - 3 to 6 months repayment. Real property loans – 15 years maximum.
INTEREST RATE	Rates for Overdrafts/Revolving Loans are reviewed annually
MORATORIA	On capital repayments of up to 1 year
REPAYMENT PROVISIONS	Depending on circumstances:- Fixed monthly installments Interest only with provisions for periodic lump sum payments in line with projected cash flow
FEES/CHARGES	35% Discount on all fees in the first year of lending.
INSURANCE PROTECTION	Insurance acceptable to the Bank
SECURITY	Mortgages Debenture Mortgage Bills of Sale Chattel Mortgages Assignment of Contract Funds Charge over marketable securities and readily realisable assets Assignment of Insurance covering insurable assets for full value. Keyman/ Life/ Group life insurance on principal(s) Director's Guarantees

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