Loans offered to individuals operating business as their source of income. The loan can be used to boost business.
Main Features:
- Loan size ranging from 10 Million to 400 Million.
- Maximum loan amount is UGX 400M
- Repayable in regular equal monthly loan instalments.
- Loan period of up to 48 months.
- Attractive Interest on a declining balance.
Basic Requirements:
- Must be the owner or co-owner of the business and must have been in business or work place for at least one year and must have been in the same place for more than 6 (six) months.
- Must have a trading license or relevant document.
- Audited books of accounts for at least two years and management accounts.
- Valuation report for the asset to cover the loan.
- Must have been in the same place for more than 6 months.
- Security required is strictly land title.
- At least bank statement for a year (for banking history)
- A photo copy of financial card.
- Application fee
- 4 passport size photographs and National IDs for Directors.
- Two passport size photograph per shareholder and photo copy of National IDs.
- For company, a copy of certificate of registration, resolution to borrow.
- Loan instalment schedule for the case where the borrower has the running loan in another institution.
- Bankable business proposal (with projected cash flows).
- Company profile (For non-individual)
- Tax Identification Number (TIN)