Media Centre

Bank of Africa Uganda. As strong as a group, as close as a partner.

SME FINANCING

<style type="text/css">p.p1 {margin: 0.0px 0.0px 0.0px 0.0px; text-align: justify; font: 12.0px Times; -webkit-text-stroke: #000000} p.p2 {margin: 0.0px 0.0px 0.0px 18.0px; text-indent: -18.0px; font: 12.0px Times; -webkit-text-stroke: #000000} p.p3 {margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Times; -webkit-text-stroke: #000000} p.p4 {margin: 0.0px 0.0px 0.0px 18.0px; text-align: justify; text-indent: -18.0px; font: 12.0px Times; -webkit-text-stroke: #000000} span.s1 {font-kerning: none} span.s2 {text-decoration: underline ; font-kerning: none} span.s3 {font: 12.0px Symbol; font-kerning: none} span.s4 {font: 12.0px 'Futura Std'; font-kerning: none} </style>

1. Unsecured Bid Guarantee

To finance bid, advance payment, performance, retention, and supplier guarantee requirements.

Features.

• Loan amount: Up to 30% of verifiable annual turnover, maximum UGX 200M

• Repayment: On or before expiry

• Tenure: Up to1 year

 

Benefits

Access to Bid guarantee without security

Fast guarantee processing (within 48 hours)

Affordable charges

Requirements

Properly filled and signed Guarantee application form

Passport size photograph and Valid/Acceptable Identification Card for each Director/Individual

Certified Resolution to borrow, Trading license, Tax clearance, Company Memarts, TIN, Particulars of directors

Copy of Bidding documents and advert for requesting for bids

Copy of previous contracts - copies of invoices paid, LPOs issued or Contracts signed

Bank statements of at least 6 months

Financial card

Completed Key Facts Document

 

 

2. Unsecured Invoice Discounting

To stabilize cash inflows expected from vetted debtors who are willing to assign proceeds to the Bank. Discounting is with recourse.

Features

• Loan amount: Up to 70% of invoice or certificate, maximum UGX 200M

• Repayment: On or before expiry

• Tenure: Up to 3 months

• Credit monitoring: UGX 5,000 per month for duration of facility

Benefits

Access to financing without security

Fast loan processing (within 48 hours)

Affordable charges

 

Requirements

Properly filled and signed Invoice Discounting application form

Passport size photograph and Valid/Acceptable Identification Card for each Director/Individual

Certified Resolution to borrow, Trading license, Tax clearance, Company Memarts, TIN, Particulars of directors

Employer to be approved

Original Irrevocable Letter of Undertaking from the Contract Employer addressed to BOAU

Copy of invoices to be discounted.

Copy of previous contracts - copies of invoices paid, LPOs issued or Contracts signed

Proof of business premises; Utility bill and sketch map to premises.

Bank statements of at least 6 months

Financial card

Share this post