Small to medium size (including retail traders) and corporate companies who undertake to route all business transactions through Bank of India Uganda Limited.
Main features and benefits
- A credit line for availment as an Overdraft/Loan or L/C or Guarantee.
- Purchase of equipment such as machinery, equipment, vehicle, tools, fixtures, furniture etc.
- Acquisition/repairs or renovation of the business premises.
- Working capital requirement.
- The eligibility of loan amount will be decided on case by case basis depending on various factors like type of asset purchase/value of the account/cash-flow projections/annual income/collateral security etc. acceptable to the bank.
- We finance Up to 85% depending upon value of other collateral security.
- Repayment Period; Overdraft - on demand, subject to annual review for working capital limits. Loan – maximum of 84 months (7 years).
- Formal Application stating the amount, purpose, tenor, source of repayment and pro-posed security.
- Financial card number for the borrower
- Third party guarantee of persons with adequate worth. (Can be waived at the discretion of BOIUL depending on the standing of the borrower).
- Charge on the assets created out of the loan amount
- Collateral security acceptable to the Bank.
- Personal Guarantee of directors/partners/proprietors /property holder. Any deviation in terms would need approval of sanctioning authority on merits.
- The assets acquired from the acquired loan should be fully insured covering appropriate risks and the policy to be assigned in the name of Bank of India Uganda Limited.