DFCU targets small businesses
DFCU has launched a business growth loan aimed at supporting small businesses. The facility targets businesses like kiosks, saloon operators, and vendors who can borrow between sh2m and sh20m and pay back over a period of three years.
By Ibrahim Kasita
DFCU has launched a business growth loan aimed at supporting small businesses. The facility targets businesses like kiosks, saloon operators, and vendors who can borrow between sh2m and sh20m and pay back over a period of three years.
Paul Musoke, the executive director, said the product was ideal for business expansion, equipment purchase, paying off other obligations, fulfilment of supply contracts and renovation of business premises.
“It allows us to structure financing that will help smaller businesses to achieve liquidity for growth and working capital needs,†he explained.
“It offers businesspeople another convenient and flexible option to finance personal investment expenditures.â€
Wilbrod Owor, the head of retail, added that the product will meet the needs of the business community.
“We are really excited about the product. It has already been successful in two of our branches. We are rolling it out to alls our branches. The application and approval process has been simplified,†he said.
DFCU has launched a business growth loan aimed at supporting small businesses. The facility targets businesses like kiosks, saloon operators, and vendors who can borrow between sh2m and sh20m and pay back over a period of three years.
Paul Musoke, the executive director, said the product was ideal for business expansion, equipment purchase, paying off other obligations, fulfilment of supply contracts and renovation of business premises.
“It allows us to structure financing that will help smaller businesses to achieve liquidity for growth and working capital needs,†he explained.
“It offers businesspeople another convenient and flexible option to finance personal investment expenditures.â€
Wilbrod Owor, the head of retail, added that the product will meet the needs of the business community.
“We are really excited about the product. It has already been successful in two of our branches. We are rolling it out to alls our branches. The application and approval process has been simplified,†he said.