- AKF is a Running Finance facility between Rs 0.50M to Rs
20.0M.
- Tailor-made product for SMEs for their working capital financing based on the cash flow methodology. (Our Edge = Better pricing, quicker TAT and low processing charges.)
- At Bank Alfalah, all branches are designated to deal with AKF business.
- The purpose of the AKF is financing procurement of raw material, finished goods and receivables of SME businesses.
- SME Customers with following acceptable criteria are entertained in this product:
- Resident Pakistanis
- Individuals/ sole proprietors aged up to 65 years.
- In the same business for the last three years
- Could offer mortgage urban residential/commercial/ industrial properties (third party collateral also allowed)
- Overall debt burden not to exceed 40% of the projected cash flows over the period of financing.
- Maximum AKF entitlement to be worked out by considering the lowest of: 60% of assessed market value of the mortgaged property, or 35% of sales turnover or condition # 5 above.
- Validity of the AKF shall be initially for a period of one year.
- Quarterly mark-up shall be serviceable within 15 days of its becoming due.
- Turn-around-time for the approval of AKF would be 20 working days from the date of receipt of complete LAF along with its attachment.
- Processing charges of Rs 2,000/- are recovered upfront with Loan Application Form.
- Clean-up requirement: At least 25% of the AKF approved limit shall be required to be cleaned-up for two days in six months.
- For details and
further assistance, please call now at 111-777-786 / 111-225-111 or visit your nearest Bank Alfalah branch.
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