Commercial Business Packages

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Commercial Packages

We're the one for you… with financial packages to suit your needs.

PRODUCTS & SERVICES FOR SMALL AND MEDIUM BUSINESSES

Products & services for your business

  • Current Account
    Helps you control all transactions relating to your business including LINX/Visa Point of Sale transactions

  • Term Loans
    Allows you to purchase fixed assets, machinery and equipment and repay over an agreed term with fixed monthly installments

  • Commercial Mortgages
    Grants you a long term loan (maximum 20 years) to help with the purchase of property (land or land & building) and the construction or renovation of a building to be used by the business

  • Commercial Overdrafts
    Assists you with managing the daily operation of your business and working capital financing. Some other solutions are Bills Discounted, Letters of Credit and Banker's Acceptance

  • Business Credit Cards (international)
    Gives you a line of credit to assist with daily operating expenses incurred by the business. Also gives you the option of Republic Bank value-added points or American Airlines miles

  • Electronic Banking Services
    Offers you Online Banking, Electronic Payment Merchant Service, Point of Sale terminals and more!

  • Night Safe Deposit
    Allows you to safely deposit your cash at any time

  • ACH
    Manage your payments through our Automated Clearing House (ACH) system. Pay bills and direct deposit salary payments, dividend payments and insurance claims

  • Foreign currency accounts
    Access foreign currency for easy payment to suppliers and receipt of payments for goods and services

FINANCING OPTIONS FOR SMALL AND MEDIUM BUSINESSES

Why do you need financing?
In addition to your capital injection, you may need supplementary finance for:

  • business start up
  • daily operations
  • business expansion
  • sustaining your business
  • managing uncertainty

How much financing can you get?
For small commercial businesses, we provide up to 75% financing of the cost. We can help you with the purchase of machinery, equipment, acquisition of office facilities, working capital needs, purchase of property (land or land & building) for business occupation/use and construction or renovation of the building used in the business.

What documents do you need to apply for financing?
  • Certificate of Registration (sole trader/partnership) or Certificate of Incorporation
  • Certificate of Continuance for companies registered after 1995
  • Two forms of valid identification (ID card, driver's permit, passport) for each director/ account signatory
  • Notice of registered address, directors, secretary, shareholders
  • Articles of Incorporation/Association and by-laws
  • Audited financial statements prepared by an accountant for 3 years and cash flow/ projected cash flow analysis
  • Invoice/contract/ sale agreement (proof of request)
  • A business plan for a new business
  • All bank and other financial institutions’ statements reflecting your capital (including savings and investments) and loan balances with applicable installments

NOTE: Even if you don't have all the documentation, feel free to meet with our Business Advisory Team and we will be happy to guide you through the process.

To learn more about our commercial offerings, please contact one of our Account Managers at any of our 34 Commercial Centres or call 625-4411.

BUSINESS TIPS

  • Plan
    Prepare a business plan at the start of each fiscal year. This should include a cash flow budget.

  • Record
    You should prepare a monthly cash flow and a list of payables and receivables with the relevant time lines (daily, weekly or monthly) maintained.

  • Review
    Schedule regular meetings with your Account Manager to evaluate your position and to prepare for any contingency within the coming year.

  • Position yourself
    Who are your main customers, suppliers, competitors and what is your market share?

  • Separate Funds
    Ensure that there is no mixing of funds. Best practice recommends that personal and business funds should be properly separated and accounted for. You should send all funds obtained through your business to your business account, not your personal account.

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