FNB: SME Portfolio
FNB’s SME division caters for SMEs with a yearly turnover of 3-10 Mio N$. Within its SME portfolio, FNB offers the following products to start-ups and SMEs requiring financing for growth and expanding operations:
- Term Loans: a loan that is repaid in regular payments over a specified period of time. Collateral requirements apply.
- Asset-based Finance: this loan product aims to finance vehicles, machinery and other equipment. The asset that is bought (i.e. car, machine, etc.) also serves as the security (or collateral) for the loan.
- Overdraft Facilities: An overdraft is a short-term loan arrangement, where your account limit gets extended up to an agreed amount. It’s the most common type of business loan.
- Contract & Tender Financing: a loan to provide the necessary financing to deliver a secured Government or Private Sector Contract (Tender).
FNB also offers training and mentoring in cooperation with SME Compete
- With legal entity
loans, bank finance
- a new business that has practical and realistic business plans
- has secured a Government or private sector contract
- is buying a franchise
- or has a viable customer base.
- Existing businesses requiring capital to fund growth, purchase equipment, purchase motor vehicles or business premises.
- Management buy-outs
- Businesses that the current management is buying from the current owners.
- Management buy-ins
- Businesses that are purchased by individuals or a management team to actively participate in the day to day running of the business.
- Namibian citizenship or permanent residency
- Registered with MITSMED
You need to submit the following documents:
- A comprehensive business plan.
- Signed and fully completed FNB Business SME Division forms.
- Detailed monthly financial projections for at least 3 years, supported particularly in the case of start- ups by a franchise feasibility study (if it’s a franchise), orders, contracts and or verifiable letter of intent.
- A personal balance sheet of every member or shareholder.
- CVs of each member or shareholder detailing relevant qualifications, skills and experience.
- Copies of relevant legal agreements (quotations, offer to purchase, franchise agreements, etc.)
- Any other information that will assist us in understanding your business and reaching a decision in the shortest possible time.
For existing businesses we also require the following in addition to the above mentioned information:
- Annual financial statements for the past 2 to 3 years.
- The latest management accounts-income statement, balance sheet, debtors and creditors age analysis.
For more information
1st Floor, FNB Building, 130 Independence Avenue, Windhoek.
Tel: +264 (0)61 299 2920