Importer'S Loan

Importer'S Loan

An import loan is a short-term cash advance (with recourse) that enables the customer as an importer to meet the customers immediate payment obligations under usance letter of Credit presentation .

Importer'S Loan
4.75 %
Interest Rate
Importer'S Loan
7.73 %
Base Rate
Importer'S Loan
12.48 %
Total Interest Rate

Last Updated Date: November 30, 2021

Himalayan Bank Ltd

With the vision to become a Leading Bank of the country by providing premium products and services to the customers, thus ensuring attractive and substantial returns to the stakeholders of the Himalayan Bank was established in 1993. The most recent rating of Himlayan Bank Limited by Bankers’ Almanac as country’s number 1 Bank easily confirms their claim and to become the Bank of first choice is the main objective of the Bank. The mission of this Bank is to become the preferred provider of quality financial services in the country. There are two components in the mission of the Bank; Preferred Provider and Quality Financial Services; therefore at HBL they believe that the mission will be accomplished only by satisfying these two important components with the Customer at focus. The Bank always strives positioning itself in the hearts and minds of the customers. Legacy of Himalayan Bank lives on in an institution that's known throughout Nepal for its innovative approaches to merchandising and customer service. Products such as Premium Savings Account, HBL Proprietary Card and Millionaire Deposit Scheme besides services such as ATMs and Tele-banking were first introduced by HBL. Other financial institutions in the country have been following HBL’s lead by introducing similar products and services.

Importer'S Loan

REQUIRED DOCUMENTS

  • Photograph (2 copies each)
  • Citizenship and/or Passport
  • Firm/Company Registration Certificate (if applicable)
  • PAN/VAT Certificate (If applicable)
  • Article of Association (AOA) and Memorandum of Association (MOA) (if applicable)
  • Partnership Deed (if applicable)
  • PAN Certificate of the individual
  • Location Map (Residence & Office)
  • Copy of renewed/valid blue book of commercial vehicle along with route permit
  • Latest tax paid receipt or tax clearance certificate for all income (where ever applicable)

What Is Importer Loans ?

An import Loan is a short-term cash advance (with recourse) that enables the customer as an importer to meet the customers immediate payment obligations under a sight or usance Letter of Credit presentation or Import Documentary Collection. Under such arrangements, Standard Charted Bank finances the customers import commitments by making payment against the Letter of Credit or Documentary Collection and receives payment from the customer at a pre-determined date in the future. Here, the credit period between the time that the bank provides finance and the time the customer repays the bank, should be sufficient for the customer to either manufacture goods for final sale or for direct sale to end buyers. Nepal is an import based economy. Most of the raw materials for manufacturing are import based.  Trust Receipt Loans are easier and popular to finance imports through Letters of Credit facility for trading and manufacturing houses. Such loans are provided for maximum of 120 days of documents retirements. Importers loans are provided for imports under payment mode of TT, Demand Drafts and DAP facility.

Benefits Of Importer Loan

  • This will allow the customers more financial resources to clear goods from the port and manufacture, store or arrange for final sale to the end buyer
  • The supplier is independent of the process of raising finance. They need not sign any documentation, but receive payment as per the original contract terms through the Letter of Credit or Bill for Collection
  • As the customer is able to reimburse the suppliers on a sight basis or when the tenor is due, this will increase the bargaining power of the customer - typically in terms of the contract price.

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