Commercial/SME/Corporate Loans

These are loans and/or overdraft facilities extended to SME's and Corporates engaged profitable business activities in a variety of sectors including trade and commerce, transport, manufacturing and processing, fishing, building and construction, health, tourism and recreation.

  Types of Commercial/SME/Corporate loans include: (i) Working Capital loans - Maturity/tenor is one year e.g. overdrafts, short term loans e.t.c, (ii) Development loans – Both short and medium term with maturity period of up to 3 years e.g. Real estate dealers, industrialists, school construction e.t.c, (iii) Trade finance loans for handing payments in trade, bid bonds, guarantees for advance payment, Import loans e.t.c, (iv) Agricultural loans for financing business agricultural activities in production and processing and (v) Letters of Credit to finance import trade. 

Basic Requirements:

• Operational Current account with the bank for 6 months.
• Applicant must be resident within the branch designated area of operation.
• Securities include registered mortgages on immoveable property and guarantees.
• Application fee of UShs. 100,000 for individuals and 200,000 for corporate.
• Arrangement fee of 2%.
• Completed loan application form.
• Security (either land title/business stock)
• Insurance of the security, registration and valuation of the security should be born by the borrower.
• Stamp duty fee of 5,000 per document
• Application letter  

Benefits:

• Flexible repayment plans i.e. monthly, bi-monthly or quarterly.
• Multiple disbursements offered to accommodate different stages of business activity