Loan/Debt
Equity Bank – EquiMama Loan
Description
A loan intended for women to kick-start or advance their businesses. Why Choose the Equi-Mama Loan? Medical Insurance; The loan comes with an insurance cover that includes; • Maternity Benefits • Hospital Cash Payout • Critical Illness Cover • Permanent Disability • Catastrophe extension cover • Life Insurance • Funeral benefits Financial Literacy and entrepreneurship training for Women in Business Low interest rates Favorable payment terms Supportive group-based model
Funding Procedure
Visit an Equity Bank branch or call 0312 327 000 to get started.
WHAT YOU NEED TO GET STARTED:
For groups:
A group must comprise 10 members or more
A group must have an account with Equity Bank
A group must be registered with a relevant registration body
For individuals:
An income-generating activity
A digitized Equity Bank account
A financial card
Membership in a group or VSLA
Target Impact
Women
Contacts
info@equitybank.co.ug
ADDITIONAL FMC INFO
Features Collateral/guarantees:
10% cash collateral, two immediate guarantors, group guarantees, and partner guarantees
Loan term: Maximum of up to 24 months
Grace period: Minimum of 3 months to a maximum of 6 months (for agricultural businesses)
Repayment frequency: Quarterly, Biannual
Loan amounts: Individual women (min UGX 3,000,000, max UGX 5,000,000); Women groups/VSLAs (max UGX 40,000,000) Interest rate calculation: Reducing balance
