According to section 4 of law No. 2019//021 of 24 December 2019 to lay down some rules governing credit activities in the banking and Micro-Finance sectors in Cameroon, all legal persons applying for a loan shall be required to provide to the credit provider, information required to assess their repayment capacity.
A legal person applying for a loan shall also be required to provide to the credit institution details of its financial position, in particular:
- Balance sheets and profit and loss accounts for the last two years;
- Balance sheets and projected profit and loss accounts for newly registered companies;
- Monthly repayment instalments of current loans (mortgage, car loan, consumer credit, etc.);
- Information on any income relating to investments (rents or financial income);
- The rent amount including rental charges, for tenants;
- Building maintenance expenses and property tax, for house owners;
- The existence of revolving credits;
- Various taxes and duties;
- Insurance premiums, including an estimate of those that may be added, should the loan requested be granted;
- Any other data that may inform the decision of the credit institution.
The credit institution may request any other document likely to inform its decision.