Jamii Bora bank introduces trade finance to support entrepreneurs

Jamii Bora provides trade finance that supports enterprises and entrepreneurs by providing practical and flexible financial services that are tailor made to customers’ needs.

Trade finance offers insurance Premium Financing, Overdraft facility, Letters of Credit, Bora Customs Duty Facility, LPO Financing, Invoice Discounting, Bid Bond, Performance Bond, and Advance Payment Guarantee.         

Trade finance targets contractors, Suppliers, Manufacturers, Retailers, Wholesalers, Distributors, Insurance brokers, Insurance companies, importers, and exporters.

Trade finance offers business loans to traders with high future ambitions.

Trade finance has the following products for its customers: Pre-Tender, Post Award, Pre-Delivery Financing, Post Delivery Financing and Post Import Finance.

Pre-Tender: This is a guarantee issued as part of a supply bidding process by the contractor to the project owner. It is a guarantee that the winning bidder will undertake the contract under the terms at which they bid.

Post Award: Jamii Bora Bank will undertake to pay a sum of money stated should their client fail to undertake proper performance of the contract.

Pre-Delivery Financing: This is a facility designed for contractors and vendors of reputable organizations to enable them execute work and local purchase orders from the respective employers. You need to have the capacity to deliver the contract, qualified, good track record and with more than one year experience.

Post Delivery Financing: This is a form of short-term borrowing often used to improve a company’s working capital and cash flow position. It entails the purchasing by Jamii Bora, invoices or promissory notes from a supplier’s selected customers.

Post Import Finance: This facility enables JBB clients to enjoy additional credit to that provided by the exporter / seller through the terms of the trade.