SME Loans and advances

We have a range of suitable financing options to help your business grow

 

Working Capital Loan

The UBA Working Capital loan offers up to 50 Million to help business owners meet their cash flow needs and expand their business. A flexible collateral cover will be required depending on the loan amount and the nature of the customer’s business. It is open to customers with verifiable credit net worth, whose cash flow patterns meet the requirement for lending.

  • – Customers get up to 50 Million, payable over 12 months to expand their business and meet their cash flow demands.
  • – Women-owned businesses get special interest rate concessions.
  • – Customers can get the facility as an overdraft or a term loan.
  • – 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. 

How to apply 

Kindly ask to speak with the SME Team at the UBA branch closest to you.

UBA SME 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 viable Business Segments that include Entertainment & Recreation, Professional Firms & Service Providers, Food & Drink, Wholesale/Retail Trade & Key Distributors, Agri-Business, Green Economy & Fintechs, Exports, Educational Institutions and other viable businesses.

  • – Customers get a loan from ₦4 Million – ₦50 Million to purchase assets and equipment needed for their business operations.
  • – The loan is payable for a minimum of Twelve (12) months and a maximum of Thirty-Six (36) months.
  • – 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.

How to apply 

Kindly ask to speak with the SME Team at the UBA branch closest to you.

 

 

UBA School Loans

This is a medium to long term facility aimed at meeting working capital, asset and mortgage needs of registered privately–owned schools. The bouquet comprises a short term loan, an asset finance loan and a mortgage.

  • – Customers get up to ₦5 Million, payable over a period of 12 months, for the short term loan.
  • – Customers can access a maximum of ₦20 million for a period of 36 months, to purchase assets and equipment needed for the smooth running of the school.
  • – Customers can also access a term loan/ mortgage of up to ₦100 million for a period of 5 years.
  • – The school must have been operating for 2 years as evidenced by bank statement.
  • – The school must have obtained government approval and every necessary authorisation by relevant regulatory bodies.
  • – The school must have been registered as a business for up to 1 year.
  • – The school 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.

How to apply 

Kindly ask to speak with the SME Team at the UBA branch closest to you.

UBA Healthcare Intervention Facility

The UBA Healthcare Loan is designed to provide financing to registered hospitals, pharmacies, medical laboratories, diagnostic centres, optical clinics and dental clinics for business expansion, upgrade, equipment purchase as well as supporting their cash flow needs.

  • – A short term loan of up to ₦5 Million, payable over a period of 12 months is available to customers in this line of business, based on the existing cash flow of the business.
  • – Customers can also get up to ₦50 Million for property expansion and asset acquisition for a maximum period of 36 months.
  • – 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.
  • – The business must be registered and licensed by the relevant regulatory authorities.
  • – To learn more about our requirements, kindly talk to the SME team at any UBA branch closest to you.

How to apply 

Kindly ask to speak with the SME Team at the UBA branch closest to you.

 

 

Young Entrepreneur Finance Scheme (YEF)

This product seeks to offer credit facilities to young entrepreneurs across Africa with vibrant and bankable business ideas and who require capital to finance and grow their small and medium scale businesses.

The product is targeted at young entrepreneurs from across Africa who are at least 18 years’ old and with workable or thriving business ideas that have strong potential for growth.

– Maximum limit of $50,000 (N15,250,000 naira equivalent)
– Maximum limit of $5,000 (N1,525,000 naira equivalent)
– Maximum Tenor of 7 years with a 6-month moratorium for start-up businesses

What is YEF?
ANS: Young Entrepreneur Finance Scheme is an initiative of the bank to offer credit facilities specifically to young entrepreneurs across Africa with vibrant business ideas and who would require finance to grow their small and medium scale businesses.

– Which are the qualified sectors for this loan?
ANS: All business sectors of young entrepreneurs with workable or thriving businesses ideas for strong potential growth except Real estate, Tobacco, Alcohol and Weapons.

– How much can be access from this scheme?
ANS: A maximum of N15,250,000 and a minimum of N1,525,000

– How Loan do I have to payback a loan amount?
ANS: Maximum of 7years but startup businesses will be allowed a 6 months moratorium period.

– Must I have an account domiciled with UBA before I can access the loan?
ANS: Applicant business must have been a customer for at least 1 month supported with 3 months’ account statement from former bank.

– How will repayment take place?
ANS: Repayment will be made from beneficiary business proceeds irrevocably domiciled to UBA.

– What is the interest rate?
ANS: Interest rate is competitive and at an affordable rate.

– How do I apply for the YEF loan?
ANS: Visit the nearest UBA branch closest to you

– Can I use a savings account to register for the loan?
ANS: Customer must be using a current account with his/her business name.

– Does this loan require collaterals?
ANS: Personal guarantee of the MD/CEO & Chairman of the company supported with Notarized Statement of Net worth.

Comprehensive Insurance cover on the property with the Bank noted as the first loss payee

– Can a startup apply for this loan?
ANS: Business can be a startup or development project

– How do I change the password to my application portal?
ANS: You can reset password by clicking on the ‘forgot password menu’.

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