Loan Facilities

Wegagen Bank currently offers services for diverse credit needs with flexible borrowing options.

Term Loans

Term Loan is the type of loan granted to a customer repayable within specified period through installments agreed.

Overdraft Facility

Overdraft is a type of facility with which borrowers are allowed to draw beyond the deposited amount of money in their current accounts with limit for a specified period of time.

Overdrawal

Overdrawal facility is the type of loan made available to customers who need temporary funding to execute contract based activities. Such loans are granted against reliable evidence that future proceeds from a contracting party will be used to repay the loan.

Merchandise Term Loan

Type of loan granted to customers by pledge of their merchandise as collateral.

Domestic Trade and Services Term Loan

Type of loan facility that provides working capital for business entities that are engaged in wholesale or retail trade and/or the service sector such as hotel, tourism, health, education, etc.

Foreign Trade Term Loan

Type of loan provided for financing import and export businesses.

Agricultural Term Loan

Type of loan availed for constructing storage facilities, crop harvesting, purchasing inputs, improved seeds, tractors, etc.

Manufacturing Term Loan

Type of loan for working capital as well as purchasing of machineries and equipments required for manufacturing, cottage industries and mining.

Building Construction Term Loan

Type of loan used for renovating houses or to meet fund requirement at the completion phase of buildings.

Construction Bridge Term Loan

Type of loan available for contractors to bridge their financial constraints (through working capital financing) while executing contractual construction activities.

Transport Vehicles Term Loan

Type of loan granted for purchasing of public transport buses, and freight fleet transport vehicles.

Transport Service Term Loan

Working capital loan granted to customers who are engaged in public, freight and fleet transport services.

Mortgage Term Loan

Type of loan provided to customers who need to purchase commercial and/or residential buildings.

Automobile Term Loan

Type of loan provided for purchasing automobiles (new or used) for business or personal use.

Letter of Guarantee

Various types of guarantees provided in favor of a customer such as bid bond, performance bond, advance payment or customs bond guarantees.