Group Business Loan
Opportunity Bank Uganda Ltd offers group business loans to support the growth and development of businesses in Uganda. These loans are specifically designed to cater to the needs of groups or associations of individuals who come together for entrepreneurial activities.
Features
- Loan Purpose Loan Amount: For Working Capital
- Loan Amount: UGX 100,000-UGX 5,000,000
- Loan Duration Repayment Frequency: 3-12 Months
- Repayment Frequency: Weekly, Monthly
- Securities: Flexible collateral requirements like; Loan Security Fund of 15%, Group Guarantee, Other Collateral like land, Chattels and Log Books pledged to group
- Interest rate calculation method: Flat
Charges
- Set Up Fees 2.3% of the Loan Amount,
- Free Insurance,
- Loan Origination Fees 20,000 for loans below UGX 2M
- Loan Origination Fees 20,000 for loans below UGX 2M and 25,000 for Loans UGX 2M and above payable at application,