Business loan
Business Loan
This is a Short term business loan targeting micro business enterprises for financing any business or productive purpose e.g. working capital. Can be used to restock businesses, purchase business assets like; motor vehicles, motor cycles, grinding mills and other equipment given toretailers, vendors and wholesalers.
Product features
- Maximum loan amount of up to UgxShs 30 million.
- Minimum loan amount of UgxShs 100,000.
- Interest charged on declining balance.
- Flexible and regular repayment plans.
- Minimum loan period of 3 months
- Maximum loan period of 24 months
Benefits
- Fast and easiest way to access business funds.
- Affordable to most low-income earners and rural poor.
- Informal loan security accepted.
Requirements
- Personal Savings account
- Completed loan application form
- Inspection of collateral
- Security must be fixed
- Guarantees, personal or corporate
- Applicant must be resident within the designated area of operation.
- There must be an on-going business activity
- 2% Insurance on all Loans against death and disability.
- 25% initial deposit (refundable after loan repayment)
1.5% Loan Processing fee