Tuesday Jul 17, 2007
Dfcu Bank has added a new product onto its expanding portfolio - the Dfcu Business Growth Loan scheme geared at helping small-scale businesses to borrow larger sums of money for a longer period.
Unveiling the scheme in Kampala last week, the Executive Director, Mr Paul Musoke said the facility is aimed at helping the smaller businesses get working capital.
"The Business Growth Loan allows us to structure financing that will help smaller businesses to achieve liquidity for growth and working capital needs," he said.
Some of the targeted small-scale business people include market vendors, shop owners, millers and transporters among others.
Small-scale business people have been facing problems in accessing loans from banks on long-term schemes because they do not have collateral but the BGL will now be offering them loans ranging from Shs5 million to Shs20 million payable in a period not exceeding three years.
Mr Wilbrod Owor, Head of Retail at Dfcu Bank, said the application and approval processes had all been simplified . "We are confident that the product will meet the needs of the business community," he said, adding that the scheme would be accessible in all Dfcu Bank branches countrywide.
The new product follows earlier products that the bank has launched over the past few months to boost its portfolio amid stiff competition from several other banks.
Source:
http://allafrica.com/stories/200707160008.html
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