Short term financing: Trust Bank also offers the short term business finance which facilitates businesses and financiers to seize quick business opportunities that require transactions to be completed in short time. Short term business finance can be a suitable way to raise working capital and cover accounts payable. There are various types of short term business finance that a business can avail of at varying terms and conditions.
Long term financing: Trust Bank also provides the facility of long term financing. It is provided for a period of more than a year. Long term financing services are provided to those business entities that face a shortage of capital for various purposes like expansion of the existing setup, improvement in the infrastructure, new acquisitions and startups and other business motives.
Bill Discounting: Trust Bank offers the facility of Bills Discounting which is essentially the sales of receivables. It provides an innovative cash management solution to further the business opportunities as it unlocks your receivables and turns it to cash the fastest way. The bank purchase receivables in the form of post-dated cheques/confirmed bill for payment. These bills represent payment to the seller for any underlying business activity and are drawn on the buyer. The tenor of the bills may vary according to the agreed credit period and is normally in the range of 30-120 days.
Bank Guarantees: Trust Bank provides the bank guarantee on the behalf of the clients. It is a an irrevocable obligation of the Bank for usually an established corporate customer, should it fail to settle a dept to a third party who is the beneficiary. The bank may pay a specified amount of money for the unfulfilled contractual obligations for the following purposes;
- Bank Guarantee for the purpose of bidding i.e Bid Bonds
- Bank Guarantee for the purpose of fulfilling the agreement i.e performance Guarantees
- Bank Guarantee for the purpose of purchasing goods on credit basis i.e purchase Guarantees
- Bank Guarantee for the purpose of borrowing i.e Financial Guarantees
Letter of Credit: The Bank also offers the facility of Letters of credit; it substitutes the credit of the bank for that of the customer, for the purpose of facilitating trade. A letter of credit is an obligation taken on by a bank to make a payment once certain criteria are met. Once these terms are completed and confirmed, the bank will transfer the funds. This ensures the payment will be made as long as the services are performed. Trust Bank provides this service for the project based requirements and not for commercial Letter of credit.