About Custom Financing Loan
A short term loan facility meant to clear port charges on behalf of importers of motor vehicles, in order to facilitate faster settlement of duty charges at Tanzania Port Authority and other bodies to avoid demurrage.
Requirements for Eligibility
- Client must be Tanzanian.
- Client must have an active phone number registered in their name.
- The vehicle should be within the scope of the LBF product policy.
- The vehicle should be in the client’s name, verified to the bill of lading.
- The vehicle has not been at the bonded warehouse for more than three months.
Documentation requirements during the on-boarding process
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- Soft copy of National ID card.
- Introduction letter from the local government.
- Salary slips for three consecutive months for employed clients.
- 6 months mobile money wallet/ bank statements.
- Assessment document. Applies for vehicles already assessed.
- Bill of lading.
- Export certificate/ parking list.
- Invoice from the exporter.
- Certificate for roadworthiness.
- Pictures of the vehicle.
- Consent letter.
For vehicles at bonded warehouse
- Release order.
- Movement sheet.
- Cargo receipt.
Loan Term: 3 months to 24 months
Loan Amounts: TZS 1,000,000 – TZS 30,000,000
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