Applying for a loan – Application Document
A. Corporate lending: Bank -> Borrower/Promoter -> Project
Individual loans for projects over EUR 25 million may be requested directly from the Bank. The layout and content of documents to be submitted to the bank are the responsibility of the project promoter
Given the range and diversity of potential projects there is no standardized documentation requirement. The bank does not require its borrowers to complete set forms or questionnaires. As a general rule, the bank expects to receive a comprehensive feasibility study.
Where this has not been prepared, the project promoter may use his own discretion in compiling detailed information to permit the technical, environmental, economic, financial and legal appraisal of projects. The following documentation list is intended as a guideline for application for a loan. Additional information may be required subsequently.
è The Borrower/Promoter.
General information about the enterprise (or institution), its legal status, principal partners and shareholders, organizational structure.
- Where the proposed Borrower of the Bank loan is not the same as the Promoter of the project, similar information is required from the both.
- Legal documents covering incorporation, statutes, activities, accounting policies, management, ownership, audited financial statements (balance sheets, profit and loss and cash-flow statements) foe the last three financial years, details of short, medium and long-term liabilities, dividend distribution policy and financial forecasts.
è The project
Technical and environmental data:
- General purpose, justification and location (rated and forecast capacity)
- Legal status of the proposed project, relationship with the borrower/promoter’s other activities, licenses and concession obtained,
- Technical description: technology, site development, buildings, production and storage plant, general services, transport systems and equipment.
- Environmental impact assessment, where relevant and appropriate, including reference to relevant laws, mitigating measures to project the environment, specific studies.
- Engineering studies and implementation plan: consultants (if any), procedures for tendering and awarding contracts, supervision, works schedule and implementation timetable.
- Detailed cost estimate, itemizing site and plant expenditure, provision for physical and price contingencies, interest during construction, initial and start-up expenses, together with a breakdown in foreign and local currencies.
- Operation: raw materials and products, flowcharts, consumption and output levels, managerial staff and workers, management organization, technical assistance where applicable.
Financial date:
- Breakdown of project operating and maintenance costs, depreciation and overheads.
- Financing plan for the project and schedule of projected expenditure.
- Projected cash-flows, profit and loss accounts, and balance sheets, until the project is expected to come fully on stream.
- Estimate of project working capital requirements over time
- Calculation of the project’s IRR
- Security and guarantees offered
B. Project finance: Bank -> Project <- Promoter
In addition to the above information regarding the promoter’s and the project, the following are required:
- A description of the project’s envisaged commercial structure and risk allocation i.e. a description of the purpose of the project, any envisaged off take (revenue) or supply contracts (including construction and operation/maintenance) and the parties to these contracts (including their experience in the domain of the project and their credit standing). An analysis of the project’s revenue and cost risks, especially in cases where “term of debt” supply or off take contracts are not envisaged/
- A description of the project’s financing structure including a detailed breakdown of the financing sources” equity, mezzanine and senior debt, and the envisaged role of Bank within the financing structure.
- A financial model, including cash-flow forecasts for the life of the project in sufficient detail to enable analysis of the underlying assumption (e.g detailed revenue, funding, operating and maintenance cost forecasts)
- In the case of a PPP project – information on the conceding authority and the procurement timetable, a summary of the key concession terms and a copy of the concession contract/
- Technical, Legal or Insurance Advice received on the project.
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