Commercial solar finance
Finance for businesses installing solar, with a fixed-price option requiring a deposit or a longer-term option linked to property value.
Αυτή η ευκαιρία είναι προς το παρόν διαθέσιμη στα Αγγλικά.
Al Baraka Bank finances commercial solar installations through two repayable options.
With the fixed-price option (Murabaha), you buy the invoiced equipment from the bank after its initial purchase. You pay a 20% deposit and repay at a rate fixed for the finance term, up to 60 months.
The variable-price option (Musharaka) offers finance of up to 20% of your property value for the solar installation, repayable over up to 10 years. The rate is fixed for the first 12 months and reviewed annually. At that annual review you can make a lump-sum payment. Attorneys’ bond registration fees are discounted.
Both options have no monthly administration fees and no penalties for early settlement. The bank charges a once-off administration or facility fee on approval.
Eligibility
The offer is for a business entity installing commercial solar through a registered installer of its choice. The bank assesses the application using the information you provide.
Provide the latest original signed annual financial statements, the last three months of bank statements, and a signed statement of personal assets and liabilities for members, shareholders or directors. For a new venture, provide a business plan or cash-flow projections.
Provide the entity’s founding document and proof of the business trading address dated within the last three months. Each authorised signatory needs a South African green bar-coded identity document or Smart ID. The bank may request further information depending on the business and entity type.
Your information must be true and complete, and you must notify the bank of changes. You agree to its verification checks, comply with applicable legislation and regulations, and supply the identity-check documents it requires. False information or withheld important information can lead to refusal or withdrawal of the facility.
How to apply
- Κατάσταση
- Ανοιχτό συνεχώς
Gather the required documents and contact your nearest Al Baraka Bank branch to apply. Complete, sign and return the business finance application form to the bank, or complete the sales contact form on the commercial solar finance page for a consultant to call you.
The finance becomes available after approval only once you have signed the relevant agreement and fulfilled all its conditions.