Advance on Payroll Charges

This is a financing formula that allows a company to pay its employees' salaries while awaiting future receipts. It enables the company to maintain a peaceful social environment.

Advantages

• Effectively pay employees' salaries despite cash flow constraints
• Avoid social unrest in case of financial difficulties

Characteristics

Maximum amount (million FCFA)	30 million FCFA
Repayment period	Maximum 3 months
Interest rate (excl. tax)	From 12% to 12.5%

Documentation

For setting up the line

• BIC form
• Completed heritage form
• Headquarters location plan
• Irrevocable payment domiciliation
• Visa or certified financial statements or general balance sheet (for new companies)
• Commitment point (certificate of non-liability or liability as appropriate)
• Copy of the ID card of the spouse if married under community property or supporting document if married under separation of property

For the draw

• Client's request expressing the need
• DISA form or tax return
• Treasury plan