Stanbic unveils new loan scheme
Oct 24, 2005
In a bid to promote business development, Stanbic Bank has launched a new product, Vehicle and Asset Finance, the Kampala business development manager, Paul Musoke, has said.<br>
By Charles Bwogi
In a bid to promote business development, Stanbic Bank has launched a new product, Vehicle and Asset Finance, the Kampala business development manager, Paul Musoke, has said.
“We lend to businesspeople to buy assets like machines, which are used as security for the loans,†Musoke said in Mukono recently.
He said the new product had been designed to make loan access flexible to many businessmen who may lack other collateral security assets like land and houses.
Musoke said the new product targets businesses, which may need more capital to expand.
He said the loan portfolio to be advanced has no limit but depends on the size of the business.
“One of the conditions for one to qualify is sound financial history,†Musoke said.
Ends
In a bid to promote business development, Stanbic Bank has launched a new product, Vehicle and Asset Finance, the Kampala business development manager, Paul Musoke, has said.
“We lend to businesspeople to buy assets like machines, which are used as security for the loans,†Musoke said in Mukono recently.
He said the new product had been designed to make loan access flexible to many businessmen who may lack other collateral security assets like land and houses.
Musoke said the new product targets businesses, which may need more capital to expand.
He said the loan portfolio to be advanced has no limit but depends on the size of the business.
“One of the conditions for one to qualify is sound financial history,†Musoke said.
Ends