When you need money in quick time to tide over your immediate needs, turn to Bank of Bhutan’s Overdraft Loan facility. This is a short term loan and comes with hassle-free documentation and easy fund access.
ELIGIBILITY
- All contractors who are awarded work / supply order
QUANTUM
- 60 – 70% of the Work Order Value / Supply Order Value
INTEREST RATE
- CLICK HERE to view the Floating/Prevailing interest rate.
TENURE
- One year or till the validity of the contract on hand.
CHECKLIST FOR TRADE & COMMERCE (CONTRACTOR & SUPPLIERS)
- Application form duly filled by the applicant OR Digital Application in BoBLoan;
- Copy of valid Citizenship Identity (CID) of both the applicant and the guarantor as applicable.
- Copy of Work Order/supply order (whichever is applicable) supported by relevant pages of the agreement;
- Copy of valid contract license;
- Copy of tax clearance certificate (not applicable to new business);
- Income and expenditure/ Profit and Loss and Balance sheet;
- Confirmation from work awarding agency regarding mobilization and material advance, work completion report to ascertain remaining bill;
- Ownership certificate(s) of the mortgage offered to the bank;
- Consent letter from the joint owner if the mortgage provided is joint ownership; and
- A copy of family tree – For family-owned land, family tree issued by Department of Civil Registration and Census, and a copy of No Objection Certificate (NOC) letter from family members (18 years and above) (if applicable)