TOP GEAR DISASTER RECOVERY FACILITY

This facility has been introduced as part of HFC’s corporate social responsibility to stand out in case of emergency or economic to the new and existing HFC customers who are affected by any form of natural disasters which would affect:

  • Replacement of inventory;
  • Loss of sales;
  • Repair or Replacement of plant, equipment and machinery;
  • Restoration of damaged buildings, including resorts and hotels;
  • Replacement of vehicles; and
  • Meeting existing commitments

Features & Benefit

  • Five days approval turnaround time on receipt of formal application;
  • Equity contribution can be by way of cash, collateral security or surplus from existing securities held;
  • Fixed security documentation, Insurance and MPI costs at outset (can be added to loan);
  • Interest only repayment in case of financial hardship subject to review of account;
  • Repayments readjusted with commencement of the payments;
  • Interest charged on a daily reducing balance and charged monthly in arrears;
  • Redraw option available on any advance repayments (first four withdrawals free per annum and minimal fee to apply thereafter).

Other Important Information

 

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