Bank of Baroda – Business Loan

Working capital finance loan for Small and Medium Entrepreneurs engaged in trading/manufacturing business activities.

Eligibility: Applicant firm should have a satisfactory operative Current account with our bank at least for last three (3) months and no cheques are returned in the account for financial reasons. Firm should be profit making for last two (2) consecutive financial years and it should be profit making at least for last one (1) year. Minimum net worth of firm should be UGX. 5 Million or double of the limit proposed, whichever is higher."

Small and Medium Entrepreneurs engaged in trading/manufacturing business activities.

General Call 0800 240 240 (Toll Free) Email mktg.uganda@bankofbaroda.com

Interest: 5% over PLR with monthly rests. * Interest rate is subject to change from time to time. View latest Interest Rate Security: No mortgage of property/ies asked for under the scheme. Personal Guarantee of one or two persons having adequate means acceptable to bank. This guarantee will be in addition to personal guarantee of Directors of company/partners of a firm etc. Hypothecation of movable assets. Advance cheques (post-dated) to be obtained from borrowing firm to secure repayment of bank loan (for Demand Loan). Repayment: Demand Loan : Repayment of demand loan depends on repaying capacity of borrowers subject to maximum -24- months with moratorium period of -3- months. Overdraft: Overdraft is subject to annual review. Documents required: Application form along with audited financial statements for last three years with projections of ensuing year. Undertaking to do banking exclusively with our bank. Demand Promissory Note Letter of Installments (Demand Loan) / Letter of Continuing Security (Overdraft) Letter / Undertaking for tendering advance (post-dated) cheques to repay loan and taking legal action against borrower in case of dishonor of cheques. Agreement of Hypothecation of movable assets. Credit requirement is assessed at 15% of acceptable projected turnover subject to minimum margin of 5% on projected turnover. "