Botswana - Apply for Bonno Loan (Company)

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Procedure

Apply In-Person

1. The National Development Bank has introduced various financial assistance interventions like the Bonno Home Loan for companies, which cater to the construction cost. NDB contact details
2. Interested applicants who wish to obtain Bonno Loan as individuals should visit the nearest NDB branch office and express their interest in assessing the loan to the sales department unit.
3. Collect and complete the Bonno Loan Application Form (Company) or download it via the NDB website, Forms or directly download it using this link; Bonno Loan Application Form-Company
4. Submit the certified copies of the supporting documents as mentioned under the “Required Documents” section of this page, in addition to the duly completed application form in all respect to the NDB sales department office/unit. Any omission of these documents will render the application process incomplete.
5. Upon receipt of the application file, the NDB receiving officer will verify if all the necessary information and documentation has been provided and that the applications comply with the selection criteria before registering the application file for assessment and consideration by the NDB sales department unit.
6. The application will be processed as per the information and documentation provided, that is why applicants are advised to provide sufficient information to enable the NBD to evaluate the business/company and make its decision.
7. Notice of the decision (Approval, Deferral, or Rejection) for the Loan will be communicated to the client in writing /phone/email.
8. If the funding is approved, the applicant will be required to visit the NDB office, where the application was lodged, and produce a proof of identity document to be validated by the authorized official. The borrower shall be made to sign a contract with NDB
9. The Access of the loan by the applicant once approved, is normally subjected to pre-disbursement conditions as the NDB deems fit, once all these conditions have been fulfilled, the loan can start disbursing in accordance with the implementation schedule agreed with the applicant (borrower).
   

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Required Documents

• Two (2) certified copies of National Identity Cards (Omang), for all Batswana applicants, all Shareholders, and Directors.
• Two (2) certified true copies of passports (for non-citizens).
• A copy of a residence permit and work permit (Non-Citizens).
• Provide Termination Balance, where the property is being re-financed. A copy of the land title (title deed, etc).
• Certificate of Incorporation or Registration documents for companies, trusts, partnerships, and other legal entities.
• Memorandum and Articles of Association where the applicant is a company and other registration documents as required by law.
• Resolution by Shareholders/Board/Members to apply for the loan, if the loan is for a company (The signing authorities to be clearly outlined in the Resolution).
• Valuation Report of the property to be financed by any of NDB’s preferred valuators.
• Provide financial statements if the applicant is a company. The bank reserves the right to request audited accounts (Past 3 years).
• Provide VAT number if the company is registered or required to be registered under VAT.
• Applicant’s Bank statements for the latest 6 consecutive months.
• Approved plans for property construction/development.
• A Copy of the Contractor and the Borrower’s agreement.
• Relevant quotations/ sales agreements.
• Bills of quantities for construction of properties.
• Proof of Physical Address, eg Utility Bills.
• BURS Tax Number.
• Provide a detailed Business Plan.
• Provide a Share Certificate for shareholders.
• Occupation certificate for residential property to be purchased Proof of payment or Quotation from project manager (applicable to construction).
• Proof of payment of Rates to relevant local authorities.
• Provide a detailed Business Plan.
• Soil Analysis Report, required for construction projects.
• For certificate or Construction Loans the contractor to attach registration documents certified by PPADB, certificate of incorporation, & Tax clearance.
• Every construction project above P500, 000 to have a soil analysis report.
• Structural Soil Analysis Report, required for construction projects Engineer’s report is required for purchase of existing property, and partially completed properties.
  

Office Locations & Contacts

NATIONAL DEVELOPMENT BANK (NDB)
GABORONE OFFICE
Client Relations Director
Regional Managers
Relationship Managers
Sales Executives
Address: Development House Queens Road, Main Mall
P O Box 225,
Gaborone Tel: (+267) 395 2801
Fax: (+267) 397 4446

FRANCISTOWN OFFICE
Regional Manager
Relationship Manager
Sales Executives
Address: Tswelelopele House
P O Box 282, Francistown
Tel: (+267) 241 6044
Fax: (+267) 241 6065

MAUN OFFICE
Regional Manager
Relationship Manager
Sales Executives
Address: NDB Office, Mall
P O Box 453, Maun
Tel: (+267) 686 0316
Fax: (+267) 686 0645

PALAPYE OFFICE
Relationship Manager
Sales Executives
Address: NDB Office, Palapye Development Trust Mall
P O Box 10387, Palapye
Tel: (+267) 492 0552
Fax: (+267) 492 0551
NDB contact details
NDB Website

Eligibility

• Any company, partnership, or other institution fully owned by the citizens or partially owned by a non-citizen.
• The company should have an existing active bank account with the NDB.
• Only plots with title deeds, leasehold, or freehold can be financed.
• Bonno Construction loan starts from P50 000.00 up to P 2million.
  

Fees

No fee associate with the service.

Validity

For companies, loan repayment is for a maximum of 15 years.

Documents to Use

Bonno Loan Application Form-Company

Sample Documents

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Processing Time

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Related Videos

Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external websites.
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.

Instructions

Please provide other instructions related to the certificate/documents.
e.g. The state office holds birth records since january 1908.

Required Information

• Detailed Background information of the applicant (company)
• Ownership or management
• Shareholding of 30% or more
• Company other income
• Existing and previous loans with NDB and other institutions
• Detailed Property to be financed
• Company Bank details
• Monthly personal budget details
• Loan Security details
• company balance sheet
• Assets/Liability details
• Declaration by the applicant
  

Need for the Document

The National Development Bank has introduced various financial assistance interventions like Bonno Loan for companies, used to finance; working capital, machinery and equipment, and building construction & refurbishment for company/institution.

Information which might help

Enter other informations which might help.

Other uses of the Document/Certificate

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e.g. Birth Certificate can be used as proof of identity.

External Links

NDB Bonno loan Brochure

Others

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