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EximGuaranty
   

Machinery Leasing Guarantee

 

This is to enable Leasing companies to support businesses/SMEs to upgrade and/or lease equipment and machines without disruption to their cash flow.

 

Who Qualifies


All financial institutions are eligible to apply for any EXIMGUARANTY scheme once they meet the following criteria:

• Comply with Monetary regulations and provisions of the Banking Act 2004, Act 673;
• Is a member of the Clearing House of Bank of Ghana;
• Complies with provisions of the Non-Bank Financial Institutions Act 774, 2006;
• Comply with monetary measures and other notices and requirements of the Bank of Ghana and/or Securities Exchange Commission requirements;
• Have consistent and diligent credit assessment and loan recovery policies;
• Have adequate technical, financial and administrative capacity to manage lending;
• Have clear understanding of Eximguaranty's policies on the guarantee scheme.


Facility Requirements

  • A participating Financial Institution must:

    i. Notify EXIMGUARANTY of their intent to seek guarantee prior to granting credit and not after.
    ii. Ensure terms and condition of granting credit to their client also apply to EXIMGUARANTY, i.e Promissory notes or contract of agreement;
    iii. Diligently monitor client adherence to the terms and conditions of granting the credit. The Financial Institution must, in addition, extend to EXIMGUARANTY officers and agents the right to inspect such clients and their project sites;
    iv. Submit quarterly reports of project being financed; and
    v. Ensure there exists a binding contract agreement between it and client to channel all revenue generated from the finance project/business through the bank.

    A violation of these terms and conditions of granting the credit constitutes a breach of agreement between EXIMGUARANTY and the financial institution involved.

Benefits Of Exim’s Credit Guarantees

  • Benefits to Financial Institutions

    i. Provides indemnity against loss in the absence of collateral;
    ii. Reduces the element of risk where credit security is unavailable;
    iii. Enables a Bank take its time in pursuing recovery proceeds
    iv. Provides easy access to foreign credit lines; and
    v. Affords high level of credibility.

    Benefits To Guaranteed Enterprises

    i. Easier access to credit;
    ii. Offsets constraints of limited or no collateral;
    iii. Alleviates hardship occasioned by non-insurable risks in the export business;
    iv. Access to expert business advisory services, training and financial solution/options
 
 
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