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 NGN50M 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 customer’s business. It is open:
  • – To customers with verifiable credit net worth whose cash flow patterns meet the requirement for lending
  • – Other structured groups / business clusters
  • ✔ Customers get up to NGN50m payable over 12 months to expand their business and meet their cash flow demands
  • ✔ Women-owned businesses get special interest rate concession
Visit the nearest UBA branch for more information. For inquiries, contact cfc@ubagroup.com or call 07002255822

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 the following business types:
Minimum amount: ₦ 4Million (Items purchased can be aggregated to make up the minimum obligor limit subject to a single item value of N500,000) Maximum amount: ₦ 50Million
– Loan application form (LAF) – Copy of a pro-forma invoice from a vendor approved by the bank. – Irrevocable domiciliation of business proceeds with UBA Plc. – Executed Bill of sale for assets financed. – Duly executed offer letter. – Evidence of a minimum equity contribution of 30%. – Applicant’s undertaking to formally inform the Bank immediately if asset is relocated in the event that the customer’s relocates to another address. – Insurance premium on each of the assets to be financed.
Visit our branch for more information OR Call: +234 700 2255 822 (0700-CALL-UBA) OR +234 1 280 8822 (2808UBA) OR  +234 1 631 9822

 

 

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 of a 4-month time loan, a 3-year asset finance loan and a 10-year mortgage loan.
Facility Tenor Amount
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.
– How do I apply for the school loan?  ANS: Firstly, you can visit the MSME Banking page on UBA’s website or visit any of our branches for information on the documentation, and eligibility criteria for UBA school loan. You can then apply by making available all necessary required documentation at any of our branches closest to you. – What will my monthly repayment plan be? ANS: you can check your monthly repayment WITH YOUR RELATIONSHIP MANAGER – Must I have a UBA account before assessing this loan? ANS: Yes, you must have been a customer with us for at least 3 months. – When are the loans in the bouquet available to schools? ANS: UBA School loans are available all year round. – Who do I submit the required documentation to? ANS: Visit any UBA branch nearest to you and ask for the customer service or relationship manager (RM). – Will the school be required to use its property as collateral for this loan? ANS: No, collateral is domiciling school fees account with the bank. – Can a school access this facility for school construction and renovating? ANS: UBA school loan bouquet provides you with different school loans that allows for renovating existing and buying new properties. It does not cover construction of new building. – what amount can a school access through this facility? ANS: A maximum of N5 million, 20million and 100million for SHORT TERM LOAN, ASSET FINANCE AND TERM LOAN respectively. – How long will it take for the loan request to be granted? ANS: As soon as the loan application has been submitted and all due diligence undertaken.

Visit our branch for more information  OR Call: +234 700 2255 822 (0700-CALL-UBA) OR  +234 1 280 8822 (2808UBA) OR  +234 1 631 9822

UBA Health Loan

The UBA Health Loan is designed to provide financing to registered hospitals, pharmacies, medical laboratories, diagnostic centres, optical and dental clinics for their business expansion/upgrade, equipment purchase as well and support their cash flow needs.
Short Term Loan: You can get up to N5 Million based on the existing cashflow of the business for a tenor of 12 months Term Loan/Asset Finance: You can get up toN50 Million for Property expansion and Asset acquisition based on the existing cashflow of the business for a tenor of 36 months.
Visit the nearest UBA branch for more information. For enquiries, contact cfc@ubagroup.com or call 07002255822

 

 

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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