Loans
Corporate lending
Citibank (Trinidad & Tobago) Limited offers a variety of short, medium and long-term financing alternatives available in local and foreign currency. We have a long and proud record of working with Local Companies, Multi-national Corporationsand Financial Institutions to provide them with timely, customized solutions.
Our loan structures typically fall into the following categories:
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Uncleared Effects Facility |
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Overdraft Facility |
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Working Capital & Short-term Financing |
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Project & Long-term Financing |
| Uncleared Effects Facility |
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Description: This facility may be requested by customers who need to draw against cheques deposited to their accounts before the clearing period has expired. Clients who anticipate requiring such a facility should discuss this with the Citibank Officer at the time of the opening their deposit accounts. |
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Cost: An annual fee, usually expressed as a percentage of the Facility.
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| Overdraft Facility |
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Description: Customers who expect to need temporary credit from time-to-time to buffer the variability of their cash inflows may request this type of facility. |
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Cost: An annual fee, usually expressed as a percentage of the Facility. An overdraft interest rate is also established and applied to overdrawn amounts.
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| Working Capital & Short-term Financing |
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Description: Working capital facilities may be requested to obtain short-term liquidity or fund current assets. Such financing may be structured in a variety of ways including receivables financing, payables financingand loans linked to the purchase of inventory. |
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Cost: An initial fee, usually expressed as a percentage of the Loan. The interest rate may be a specific rate (which may be adjusted from time to time by the Bank), or a floating rate.
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| Project & Long-term Financing |
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Description: Typically, such loans are linked to the financing of an income-earning project with a creditworthy sponsor. |
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Cost: An up-front work fee, an initial commitment fee and an annual loan administration fee, each usually expressed as a percentage of the Loan. The interest rate may be a floating rate or a specific rate (which may be adjusted from time to time by the Bank). The floating rate is usually based on the local Treasury Bill rate – in the case of local currency borrowing, or Libor – in the case of foreign currency borrowing.
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The decision to extend credit facilities is solely up to Citibank and is done only after the bank’s Credit Committee has fully approved the credit request and established the credit termsand the relevant documentation is executed.
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