Equity bank congo DRC is part of equity bank group in kenya, one of the big bank group in east africa.
It has experience in financing small, medium and large companies.
Equity bank congo is one of the fast growing bank in congo with quality clients services.
The bank provides many services from local to international clients.
Credit for business can be difficult because of uncertainty and economic instability conditions in congo DRC,
let look at equity bank requirement for business before you consider applying for credit.
- Have an active bank account or open one if you don’t have:
This is not a big deal because they can open right a way if they think you qualify base on your prior negociation with them but i will advice you to have an active business account for sometime,
This will make it easy for them to analyse the transactions from your business account.
Remember the bank can give credit only to existing business,
This will be a way to prove by your transactions with your clients or yourself.
- Have a real address for your office or business place:
In most cases the bank will send agents for verification.
They need to make sure you have an existing business where they can find you whenever they need you.
- Have legal documents for your business:
Normally this is the first step to start with, because to have an active business bank account or opening one you will need to present certain documents which you get when you register a company in congo (RCCM, ID, business status document, Tax number etc.)
- Guarantee for the repayment:
The bank has a business of lending money to people or for the business purpose,
Now imagine lending money to many businesses which fail to repay some or full amount lended,
That is why the bank create a security way to not loose when things do not work as expected.
Congo is an under developped country which make things very complicated in the way that if business fail to repay,
The responsible persons (owners) can run away or disappear,
It might be difficult to find them so the bank required a guarantee which has to be a valuable asset,
With equity bank congo valuable asset is a property (a house with the title deed) and this will be kept at the bank in other way the bank will keep the title deed so that the clients can not be able to run away or sell thier property and disappear just in case if the clients fail to repay the credit,
They will find solutions in a friendly way.
If you need to apply for a credit at equity bank congo DRC and you are able to provide what they required you will get the approval very quickly.
what is listed above is the basic requirements but we advice you to go to a near you equity bank congo agency to find out if they have any update.
Remember some people can get an exemption on some requirements base on your arguments or negociation so use this article as an information but confirm with the bank itself.
Note that this is about business credit not salaries credit to find out more about the salaries credit contact the nearest agency for the requirements.
This is my opinion for equity bank congo DRC they have a welcoming clients services which will make you be confortable with them and they are more advanced compare to many other banks in congo.