Building Improvement Loan
- Application must give details of improvement and previous work done on building.
- Statement of account for the last six months
- Applicant must have ownership of property.
- Simple deposit of title documents with equitable mortgage on the property
- Corporate Guarantee of the organization with their 3 signed cheques to support where borrower is a cooperate entity.
- Personal Guarantees of 2 key individuals (in case an organization) backed up with their undated signed personal cheque leaves of other banks other than Bowen Microfinance Bank.
- Applicant to provide other bank’s cheques for repayment if main account is not with Bowen MFB.
- Loan amount subject to salary, cashflow and capacity.
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