Financing
Type of credit provided for various viable project promoters with 50% finance for new customers and with 60% finance for existing customers of the Bank. Wegagan is one of the private commercial banks which has been profoundly financing the economy across its various sectors. The Bank has been extending loans and advances to scores of businesses engaged in various areas such as agriculture, manufacturing, import and export, construction, wholesale and distribution, etc.
The Bank’s major activities in its credit operations revolve around providing short and medium-term loans & advances and related lines of credit to commercial, industrial and agricultural business enterprises. It also provides consumer (personal) credit facilities for the purchase of automobiles, household goods, etc. Apart from its acclaimed involvement in fueling the economy with financings.
Wegagen also channels a great deal of sizable funds to priority sectors through purchase of long-term government bonds from the National Bank of Bond Mar- ket. Across its foreign banking and trade finance business, Wegagen is a re- nowned participant in the sector by allowing a significant share of the customers and business community conduct international trade both in terms of import and export. The Bank also offers various other facilities including rendering fast and reliable local & international funds transfer services.
Asset finance
It is a medium-term loan designed for acquisition and/or leasing of fixed business assets (leased land, buildings, machinery, equipment, public transport vehicles, trucks and trailers, etc.) whose business nature justifies, or requires, such financing and periods of time for implementation and repayment of the loan.
Construction (L/C)
Machinery or Equipment Loan
Transport
or Motor Vehicle Loan
Agricultural
Equipment Loan
Property
Disposal Loan
Mortgage
Term Loan
Project Financing
It is a medium or long-term loan extended for the establishment of a new project and the expansion of an existing business—all of which must be justified by a project feasibility study and/or a business plan, with periodic installments. The project loans as a package may embody working capital finance.
Warehouse Receipt Financing
Credit facility granted to agricultural commodity traders and suppliers against receipt of warehouse voucher from legally authorized warehouse operators.
Warehouse Receipt Financing
Credit facility granted to agricultural commodity traders and suppliers against receipt of warehouse voucher from legally authorized warehouse operators.
Project Finance
Type of credit provided for various viable project promoters with 50% finance for new customers and with 60% finance for existing customers of the Bank.