Barclays Offers Hand
BARCLAYS Bank Uganda has launched an unsecured loan scheme for small and medium scale enterprises (SME), to enable them access funds for expansion,
BARCLAYS Bank Uganda has launched an unsecured loan scheme for small and medium scale enterprises (SME), to enable them access funds for expansion, reports Ricks Kayizzi.
‘Business Solution’ will benefit both existing account holders and new customers, applying for loans of between sh5 and sh50m.
“We have been known as a corporate bank dealing with multinationals. This initiative is to change the whole picture as we expand our wings to reach more parts of the country,†Frank Griffiths, the bank’s managing director, said yesterday.
He said Barclays want to attract new customers, ranging from street vendors, retail shop and supermarket owners, bakers as well as upcoming local manufacturers.
“All we require is a proper cash flow statement, books of accounts, and a letter of registration for the business,†he said. On loan recovery he said: “There are a number of risks attached to this sector, but we are ready to face them. This bank needs to grow and there are limited opportunities for this in the corporate world.â€
Ends
‘Business Solution’ will benefit both existing account holders and new customers, applying for loans of between sh5 and sh50m.
“We have been known as a corporate bank dealing with multinationals. This initiative is to change the whole picture as we expand our wings to reach more parts of the country,†Frank Griffiths, the bank’s managing director, said yesterday.
He said Barclays want to attract new customers, ranging from street vendors, retail shop and supermarket owners, bakers as well as upcoming local manufacturers.
“All we require is a proper cash flow statement, books of accounts, and a letter of registration for the business,†he said. On loan recovery he said: “There are a number of risks attached to this sector, but we are ready to face them. This bank needs to grow and there are limited opportunities for this in the corporate world.â€
Ends