Convenient Asset Financing Tailored for You
Get financing for the purchase of household appliances, alternative power solutions, etc. with the UBA Asset Finance and pay back conveniently over a period of 24 months. You can purchase a variety of assets ranging from smartphones, laptops, household appliances, inverters, generators, etc.
Product Features and Benefits
Tenor
- Alternative Power supply (Solar & Generators): 36 months
- Household Appliances: 18 months
-
Devices: tenor depends on the type of device:
Phone & Tablets – Max 12 months; Laptops/desktops, printer/scanner – Max 18 months - Power Meters: 12months
Maximum Loan Amount
- 15 million naira depending on the asset classification being financed.
- Alternative power solutions (Solar and Generators): 15 million
- Household Appliances: 10 million
- Devices: 3 million
- Power Meters: 500 thousand
Minimum Equity Contribution
- 5% - 20% depending on the customer’s target market
Eligibility Criteria
- Duly completed Loan application form
- Duly accepted offer letter
- Copy of the obligor’s staff ID and valid ID
- Obligor’s confirmation letter
- Pro-forma invoice for the item issued in the name of the Bank and the applicant
- Clean Credit Bureau/CBN CRMS Report.
- Employer’s acknowledged copy of Customer’s commitment to domicile monthly salary/allowances to UBA.
Note: For source deduction customers, obligor must set up a source deduction mandate with the Bank.
- Get pro-forma invoice (PFI) for preferred items from any approved vendor.
- Then visit a UBA branch to complete a loan application form.
- Execute an offer letter detailing the loan terms and requirements, following approval.
- Pick up preferred items from the vendor.
How to Apply
UBA Asset Finance
With the UBA SME Asset finance loan, you can get funding to purchase new assets and also expand your business. It is available to registered SMEs in Professional Firms & Service Providers, Food & Drink, Wholesale/Retail Trade & Key Distributors, Agri-Business, Green Economy & Fintechs, Exports, Educational Institutions and other viable businesses.
How to Apply
Kindly ask to speak with the SME Team at the UBA branch closest to you.
Features
- Customers get a loan from ₦4 Million – ₦50 Million to purchase assets and equipments needed for their business operations.
- The loan is payable for a minimum of Twelve (12) months and a maximum of Thirty-Six (36) months.
Requirements
- The business must have been registered for up to 1 year.
- The business must have a banking relationship with UBA for a minimum period of 3 months.
- To learn more about our requirements, kindly talk to the SME team at any UBA branch closest to you.
Loan Calculator
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Frequently Asked Questions
Explore our comprehensive FAQs to learn all about UBA Asset Finance, including how it works, eligible assets, loan requirements, and more. Get the details you need to make informed decisions.
How does Asset Financing work?
It offers loans to customers whose salaries are domiciled with UBA for acquisition of assets of their choice from any of the approved vendors by the Bank.
What types of asset can be obtained through the Bank?
With UBA Asset finance loan, you can acquire the following asset categories:
- Home appliances
- Electronic devices
- Phones
- Generators
- Solar systems
- Furniture
Can I apply for multiple asset?
Yes, provided your income can support additional facility, subject to approved percentage of your salary for loan repayment.
Can I request for a loan to buy required assets from 2 different vendors at the same time?
No. However, you can get a Personal Loan to acquire assets from different vendors.
Do I need a collateral before I can access the loan?
No. You do not need a collateral for asset financing. The asset financed serves as collateral.
Are there after sales service for the products, like repairs?
Yes, there are after sales service on certain items as specified by the vendors.
What is the maximum amount of asset I can get a financing for?
N3,000,000
What is the minimum amount of asset I can get a financing for?
N35,000
What is the minimum equity contribution on Asset finance product?
Customer is required to make available a minimum equity contribution of 30% of the cost of asset to be acquired, whilst the Bank will provide the balance of the cost as loan.