Working Capital Loan
- – To customers with verifiable credit net worth whose cash flow patterns meet the requirement for lending
- – Other structured groups / business clusters
UBA Asset Finance
UBA School Loans
|Short-term loan||Upto 12months||Access up to N5 million|
|Asset Finance Loan||Up to 3-year||Access up to N20 million|
|Term Loan (Renovate or Buy)||Upto 5-years||Access up to N100 million|
- ✔ Access to fund to meet operational, expansion, asset procurement needs with a moderate RAC
- ✔ Easier access to funds to finance various school projects
- ✔ Enhances further growth to the school.
- ✔ Evidence of registration with regulatory bodies
- ✔ Letter of undertaking by the business owner to domicile all business proceed over the facility tenor Payment mandate
- ✔ Applicant’s letter of request written application /facility request
- ✔ Duly completed KYC form.
UBA Health Loan
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’.