What You'll Need
A Company's Requirements for Financing
Please note that a registered company cannot borrow in the company's name, the company must be incorporated, and all company documents should contain the company's seal.
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General Requirements
Memorandum and Articles of AssociationA copy of the company's Memorandum and Articles of Association.
Certificate of Good StandingA Certificate of Good Standing for the company.
Certificate of IncorporationA Certificate of Incorporation for the company. Please note that a registered company cannot borrow in the company's name, the company must be incorporated.
Borrowing ResolutionA Borrowing Resolution authorizing persons to act as trustees on behalf of the company with regards to the transaction.
List of directorsA list of all directors along with their photo ID (preferably passport).
Authorized signatoriesA list of all persons authorized to sign on behalf of the company, including Name, Signature, Address, Occupation, and Photo ID (preferably passport).
Financial statements and projectionsThe company's most recent 3 years Audited Financial Statements, with a minimum of 3 years projections.
Verification of addressA verification of address for the company, such as a utility bill e.g. water, electricity, telephone, internet, or cable, which should not be more than 3 months old.
Company sealAll company documents should contain the company's seal.
Additional documentationDepending on the purpose of the loan, additional information may be required.
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Vehicle Purchase Requirements
Equity injection, new vehiclesAn equity injection of 10% on new vehicles.
Equity injection, used vehiclesAn equity injection of 25% on used vehicles.
Sales invoiceA sales invoice for the vehicle being purchased.
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Land Purchase Requirements
Equity injectionAn equity injection of 10% on land purchases.
Sale AgreementA Sale Agreement between the buyer and seller of the land.
Seller's proof of ownershipProof of Ownership from the seller.
Land register and title deedA copy of the land register and title deed.
Valuation, where applicableAn updated valuation is to be obtained from one of our company's approved valuators (J. Bradshaw or D. Parker).
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Probable Additional Expenses
- Administration & Negotiation Fee0.5% of the Amount Borrowed
- Valuation Fee
- Legal Fees
- Insurance
- Transfer Fees
Get pre-approved online
Pre-approvals can be effortlessly completed through our website. Our streamlined process ensures that you receive a prompt response, allowing you to move forward with confidence in your financial decisions. Please ensure you have all documents in place to make your transaction flow smoothly and quickly.
Thank you for choosing Hadeed Motors / Caribbean Premium Motors for your vehicle choice and Finance & Development Company Ltd. for your financial needs.
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