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Business Plug

Business Plug

The business plug program is designed to offer loans, savings, and business skilling to SMEs with a focus on operating businesses with growing traction.

Products designed just for you

Supply / Contract Loan

SMEs are constantly struggling to keep cash at hand for operations or to be able to fulfill contracts because of Limited resources.

Our supply/contract loan product is designed to offer loans to SMEs with a confirmed contract and LPOs but lacks the resources or cash to make the delivery. The loan caters to B2B SMEs in need of cash to make a delivery for an order with a payment period of 3 months and less.

Key Requirements

  • Contract of supply or proof of past supplies and payments
  • Proof of business ownership
  • Supply payment should be with 3 months
  • National ID or passport
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Institutional deductions:

  • The loan processing fee is 4.5% of the loan amount.
  • 4% interest rate on the amount given 
  • Stamp Duty of Ugx 10,000 on Loan amount equal and above 3,000,000/= (Three million Uganda shillings only).

Ubuntu Group account

Group account is a service designed for progressive, hardworking, and ambitious formal and informal groups with a common goal. This product is also accessible to enterprises. It’s an account for groups who desire to bank / save jointly with a common goal to improve or achieve a specified goal, such as asset acquisition, and improve the level of income and livelihoods. The account can be customized to any group’s purpose of working jointly.

The product can be utilized by members of our programs who wish to operate in teams in any of three programs without compromising their individual program benefits.

Features

  • Opening balance Ushs. 200, 000
  • Minimum balance UShs. 100, 000
  • Does not attracts a monthly account maintenance fee
  • Permits cash withdrawal on request 60 days prior.
  • Permits deposit by way of cash, and mobile money
  • Attracts interest rate of 0.5% monthly and 6%annually
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Key Requirements

  • Document confirming the existence of the group/organization
  • Account opening form
  • Minimum balance of 20,000shs
  • National identity card of group members
  • At least two account signatories 

Easy Access Account

This service is uniquely created for our clients that desire to save and quickly retrieve their cash from time to time. The service is open to members and non-members of the fund. The account users can voluntarily save an amount desirable to them and withdraw it in time of need in a short time following a quick procedure.

The easy access account is for you who wants to access your cash any time the need arises but are conscious of the risks of holding liquid cash.

Features

  • Opening deposit of UShs 20, 000 for individuals 
  • Minimum balance of UShs. 10,000 for individuals & Ushs. 50,000 for premium customers
  • Cash withdrawals from the account by only account holders; no third parties are allowed to make cash withdrawals from the account. 
  • Daily balances and mini-statements are available on request
  • Mobile money transactions on demand 
  • Monthly transaction fees of 1050 ushs
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Key Requirements

  • National identity card
  • Account opening form
  • Opening deposit  of 40,000shs
  • 2 Passport photos
  • Account opening fees of 20,000shs.
  • The referee who is a member of any of our programs

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