UBA Low-Interest Loans – This article is all you need to know about how to apply for the amazing UBA Low-Interest Loans, UBA is a supportive partner. UBA provides you with loans to grow your business and meet some personal needs. UBA also caters to the bespoke needs of self-employed business owners.
SMEs (retail merchants and general commerce), self-employed professionals, entertainers, start-ups, tech entrepreneurs, and artisans. There are several loans that UBA gives its customers. They include:
UBA Working Capital Loan
The UBA Working Capital Loan provides up to ₦50 million to help entrepreneurs meet their financial needs and grow their businesses. Variable coverage will be required, but this will depend on the loan amount you are requesting and your business type.
Features
- As a UBA customer, you can get up to ₦50 Million, payable over 12 months to expand your business and meet your cash flow demands.
- Businesses owned by women get special interest rates.
- As a UBA customer, you can get the facility as an overdraft or a term loan.
Requirements
- You must have registered your business for up to 1 year.
- The business must have a banking relationship with UBA for a minimum period of 3 months.
- Kindly talk to the SME team at any UBA branch closest to you for more details regarding the requirements.
How to Apply
Request to speak with the SME Team at the UBA branch closest to you and get details on how to apply.
TCF PPP Loan Application 2022 Form Portal
UBA Asset Finance Loan
Loans for UBA SMEs give you money to buy new assets and grow your business. This is available to registered SMEs in professional businesses and service providers, food and beverage, wholesalers/retailers and wholesalers, agribusiness, green and fintech, export, educational institutions, and other markets are possible.
Features
- As a customer, you can get a loan from ₦4 Million – ₦50 Million to purchase assets and equipment needed for your business operations.
- You are required to pay the loan for a minimum period of Twelve (12) months and a maximum of Thirty-Six (36) months.
Requirements
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- To get this loan from UBA your business must have been registered for up to 1 year with them.
- Your business must have a banking relationship with UBA for a minimum period of 3 months.
- For more information about the requirements, you can talk to the SME team at any UBA branch closest to you.
How to Apply
To successfully apply for this loan request speak with the SME Team at the UBA branch closest to you.
UBA School Loans
UBA school loans are an opportunity to meet the working capital, property, and delivery needs of registered private schools. The UBA school loan comprises a short-term loan, an asset finance loan, and a mortgage loan.
BOI Loan Application Portal 2022 | Bank of Industry Loan Application
Features
- As a UBA customer, you can get up to ₦5 Million, payable over 12 months, for the short-term loan.
- As a customer you can also access a maximum of ₦20 million for 36 months, to purchase assets and equipment needed for the smooth running of your school.
- UBA customers can also access a term loan/mortgage of up to ₦100 million for 5 years.
Requirements
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- To be able to access this loan, the school must have been operating for 2 years as evidenced by the bank statement.
- There must be proof of government-obtained approval from the school and every necessary authorization from relevant regulatory bodies.
- The school must have been registered as a business for up to 1 year.
- The school must have a banking relationship with UBA for a minimum period of 3 months.
For more information regarding this loan requirement, kindly talk to the SME team at any UBA branch closest to you.
How to Apply
You can request to speak with the SME Team at the UBA branch closest to you.
UBA Health Loan
UBA Healthcare loans are targeted at hospitals, clinics, medical laboratories, research centers, eye clinics, and dental clinics for expansion, improvement, and purchase of equipment, as well as to meet their current financial needs.
Features
- There is a short-term loan of up to ₦5 Million, payable over 12 months available to customers in this line of business, depending on the existing cash flow of the business.
- As a customer, you can also get up to ₦50 Million for property expansion and asset acquisition for a maximum period of 36 months.
Requirements
- You must have a registered business for up to 1 year.
- Your business must have a banking relationship with UBA for a minimum period of 3 months.
- You must have a registered and licensed business by the relevant regulatory authorities.
For more information about the requirements, kindly talk to the SME team at any UBA branch closest to you.
How to Apply
You can request to speak with the SME Team at the UBA branch closest to you.
Forex Cash-Backed Loan
To apply for this loan, you need a funded domiciliary account
Requirements
- To get access to this loan you need a Funded FOREX account
- Duly completed loan application form
- You also need a valid means of Identification (international passport, national driver’s license, national id card, and voters card)
In case you don’t have a Domiciliary Account and you want to apply for this loan
Click here to open one for Nigerian-based customers.
For abroad-based customers Click here to open one.
GEEP Loan Disbursement Date 2022 | Full Details Here
How to Apply
- Click here to see where to download and fill out the loan request form.
- Visit a UBA branch with all the necessary documentation to complete your loan application
- Send an email to diasporasupport@ubagroup.com if you live outside Nigeria.
- Sign an offer letter containing the loan terms and conditions after the loan has been approved.
- The approved loan amount will be disbursed into your UBA naira account.
Benefits
- You will get a maximum loan amount of N10 million
- A maximum of 85% of Forex Savings or deposit value is calculated at the Bank’s prevailing rate.
- A convenient repayment period of 36 months
- 5% interest on Forex deposit
It has an attractive interest rate. The interest rate will be on floating terms subject to changes in money market conditions, for the period of the loan.
- A one-off management fee of 1%
Frequently Asked Questions(FAQ)
Can I get a loan from UBA without a salary account?
Your UBA account must be your salary account through which they have paid salaries for at least 3 months.
What is the Name of the UBA Loan App?
UBA loans application platform, the Integrated Credit Express (ICE), puts you in charge of all your loans such as UBA Personal Loans, Auto Loans, Asset Finance, and Insurance Premium Financing.
Disclaimer
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