Loan/Debt
Bank of Baroda – Short-Term Loan
Description
Bank has a Scheme for providing Short Term Clean Loan to Corporate Clients for bridging cash flows / working capital requirement on short term basis
Funding Procedure
Eligibility:
Corporate body incorporated for more than 5 years.
Net worth over UGX 500 Million as per latest audited balance sheet.
Profit making company for last 3 consecutive financial years and no arrears of any tax liability.
Minimum current ratio 1 and above.
Companies engaged in coffee processing/agriculture cultivation are not eligible.
Contacts
General Call 0800 240 240 (Toll Free) mktg.uganda@bankofbaroda.com
ADDITIONAL FMC INFO
Repayment Period: 3 to 6 months. Initially loan will be for 90 days and its rollover is permitted up to a maximum of 180 days as per request.
Interest Rate = 3% over PLR with monthly rest for loan in UGX 1% over USD PLR with monthly rest for loan in USD.
*Interest rate is subject to change from time to time. View latest Interest Rate ** For further details, contact any of their Branches in Uganda
Documents Needed = D.P. Note. Personal guarantee of all directors residing in Uganda and Advance cheques (Post-dated) for repayment. Letter of installments.