Does one require collateral to access a loan under Agricultural Credit Facility and Small Business Recovery Fund?
Both the Agricultural Credit Facility and Small
Business Recovery Fund have to be adequately secured.
For grain traders, the grain stock can form part
of the security, and for asset financing, the purchased asset can act as the
security.
Related Articles
How does someone access the Agricultural Credit Facility and Small Business Recovery Fund?
Eligible borrowers can access the loan only through the Participating Financial institutions, banks and SACCOs regulated by the Bank of Uganda. All potential borrowers must have an active account with Participating Financial Institutions, a valid ...What is Small Business Recovery Fund?
The Small Business Recovery Fund is also a partnership between the Government of Uganda, Bank of Uganda, commercial banks, credit institutions, Micro-finance deposit-taking institutions and SACCOs regulated by Bank of Uganda; all collectively known ...Who is responsible for sensitizing the public about the loans available through the Agricultural Credit Facility and the Small Business Recovery Fund?
The Bank of Uganda is responsible for sensitising the general public about the availability of the Agricultural Credit Facility and the Small Business Recovery Fund. They conduct public outreach through various channels, including in-person events, ...Who is eligible to borrow under the Small Business Recovery Fund, and what projects are financeable under this fund?
All small businesses, whether operated by individuals, groups, partnerships, or companies, are eligible to borrow from this fund, provided they have sufficient cash flow to support the loan repayments. However, borrowers who have already benefited ...What are the terms and conditions under Small Business Recovery Fund?
i. Loan Amount The maximum loan amount to a single borrower is UGX 500 million; however, there is no minimum loan amount. ii. Loan Term The minimum loan period is 6 months, and the maximum is 4 years with a maximum grace period of 1 year, depending ...