Accessibilty Links
Login
Asset Based Finance
The aim of Asset Based finance is to enable the borrower to obtain use of an asset while repaying the amount borrowed over an agreed period of time. ABF facilities are beneficial for acquiring trucks, buses, commercial vehicles, poll cars or other assets such as agricultural machinery, construction yellow metals, manufacturing equipment, etc, intended for growing your business.
Features and benefits
- Ownership of the asset usually vests in the bank until the borrower repays the amount in full, and once fully repaid, the ownership is transferred to the borrower
- Flexible Repayment period of 12-60
- Frees off cash flows to be used for other operational expenses
- Affordability in acquiring capital intensive assets
- No security needed. Asset financed becomes the security
Qualifying Criteria
- Have an existing account with Nedbank
- A negotiable deposit
- Vehicle not more 5 Years old
- Tax invoice of asset being financed
- Audited financial statements for limited liability companies
- Latest management accounts
- Cash flow projections
- Aged debtors and creditors list
- Comprehensive insurance
