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BARODA Business Loan (BBL)


Type of Facility: Demand Loan / Overdraft against charge on movable assets
Target Group: Small and Medium Entrepreneurs engaged in trading/manufacturing business activities.
Eligibility:
  • Applicant firm should have satisfactory operative Current account with our bank at least for last three (3) months and no cheques are returned in the account for financial reasons.
  • Firm should be profit making for last two (2) consecutive financial years and it should be profit making at least for last one year.
  • Minimum net worth of firm should be Ugx 5 Mn. or double of the limit proposed, whichever is higher.
Purpose:
  • Finance for working capital in Business
Amount of Loan:
  • Minimum  : Ugx  2 Mn.
    Maximum : Ugx 10 Mn.
Margin:
  • Credit requirement is assessed at 15% of acceptable projected turnover subject to minimum margin of 5% on projected turnover.
Interest:*
  • PLR + 5% with monthly rests.
Repayment:
  • Demand Loan: Repayment depends on repaying capacity of borrowers subject to maximum -24- months with moratorium period of -3- months. 
  • Overdraft:  Subject to annual review.
* Interest rate is subject to change from time to time. View latest Interest Rate.
** For further details, contact any of our branches in Uganda