FAQs - FirstCaribbean International Bank

Frequently Asked QuestionsGetting Started as a CIBC FirstCaribbean Small Business Customer1. What businesses does Small Business serve?Our Small Business Officers provide business support to enterprises, which generally have annual salesnot exceeding US $500,000. Our Small Business Officers are committed to helping you select the bestfinancial solution to suit your business needs.3. How can I service my business account once it is opened?Our Small Business clients are provided with access to Internet Banking and Telephone Banking service.These two services are very convenient, safe and secure and allow you to perform a range of bankingtransactions including account queries, cheque book orders, stop payment requests on cheques andmore. Some customers qualify for Mobile Banking as well – ask one of our small business officers if youqualify.4. What documentation must I provide to open a business account?Small Business clients wishing to open business accounts must visit the branch to complete theaccount opening process. The following documentation must be provided:If you are a Sole Proprietor “Trading As”• Certificate of Registration/Business License• Actual Registration Form (completed to register company)• Evidence of identity of proprietorIf your business is a Partnership• Partnership Agreement• Certificate of Registration• Evidence of identity of individual partnersIf your business is an Incorporation• Certificate of Incorporation (where applicable)• Company By Laws• Articles of Incorporation• Notice of Directors• Notice of Address of Registered Office• Mailing address (if different from address of Registered Office)• Notice of Secretary• Share Certificates• Banking Resolution signed by Corporate SecretaryGetting Started as a CIBC FirstCaribbean Small Business Customer

• Proof of beneficial ownership (Certificate from Corporate Secretary, with Corporate Seal),outlining the names and addresses and amount of shares held for all shareholders; or Letterfrom lawyer or accounting firm outlining same as above; or notes to audited statementsPlease note that all Company Directors and signatories will need to provide the following:• One form of valid photo identification (e.g. Drivers License, National Registration Card)• Proof of Address (directors, shareholders with 10% or more interest (5% for Anguilla and St.Kitts))• Professional or Bankers References (if living outside of country where account is being opened)5. What documentation is required if I want to apply for a business loan?Existing Customers• Financial Statements for past two years• Financial Projections for upcoming three years• Any invoices &/or other documentation to support the applicationNew Customers• Business Plan• Financial Projections for upcoming three years• Any invoices &/or other documentation to support the applicationSee our Small Business Resource Centre where you will find several templates including a Business Planand a Cash Flow Calculator.Getting Started as a CIBC FirstCaribbean Small Business Customer