Purpose of the Collateral Registry

The Collateral Registry provides a platform for searches, so that an interested party may find out if there are prior registrations against the assets offered by the borrower as collateral for a loan.

Users of the CRS

The kind of access to the Collateral Registry System depends on the type of transaction to be undertaken. It also depends on whether you are a Body Corporate or an Individual Agent (acting on another’s behalf) to register a security interest regularly or infrequently or a Public user who only search the registry system or generate search certificates one time.

What is Equipment?

Equipment refers to any goods that are not inventory or consumer goods. It refers to machinery or other capital goods used in the operation of the borrower’s business. Equipment includes assets like farm equipment, construction machinery, cash registers, taxis or computers used by a business.

Movable Property

Movable property refers to tangible property that can be physically moved like equipment and livestock, and intangible property like accounts receivable (book debts) and bank accounts.

About The Registry

The Collateral Registry of Sierra Leone is an initiative of the Bank of Sierra Leone or BSL (with support from the World Bank Group) to improve access to finance particularly for Micro, Small and Medium Enterprises (MSMEs). The Collateral Registry, established under Part II of the Borrowers and Lenders Act, is a web based system that allows lenders to search for any prior security interests, as well as establish their security interests over movable assets provided as collateral. The Collateral Registry facilitates the use of movable / personal assets as collateral that may remain in possession or control of the borrowers and thereby improves access to secured finance. Read More..

Search as a Public User

Click on the Search menu tab at the Home page and Select Search from the dropdown list.

How to make Mobile Payment

Click on the Search Menu tab at the Home page.

Check Payment Balance

Click on the Search Menu tab at the Home page. At the Main Search page, click on the Payment menu tab.

Features

The Collateral Registry system holds a number of functionalities for both registered users and public users. The system allows the following online operations:

Client Account Registration
Registration of Security Interest
Processing of Search Requests
Ammendment of Security Interest
Discharge of Security Interest
Generation of Reports