Is a facility that allows drawings in excess of the Current Account balance up to an agreed an agreed limit.

Main Features

Minimum Loan amount UGX 10 million.

  • Short term facility of 3 to 12 months.
  • Interest is charged on overdrawn balance.

Requirements

  1. Private Businesses (Individual/Joint holders, Unregistered)
    • Application Form.
    • Two passport size photographs.
    • Proof of identity by a valid passport, driving permit, or identity card.
    • CV of business person
    • Personal Audited Accounts for the last two years prepared by a firm of registered certified accountants.
  2. Limited Companies
    • Application Form.
    • Company Profile.
    • Incorporation Certificate*
    • Articles and Memorandum of Association*
    • Registered Board Resolution to borrow*
    • Two (2) passport size photographs for each signatory
    • Proof of identity by a valid passport/driving permit/identity card.
    • Audited Accounts for the last two years prepared by a firm of registered certified accountants.
    * The documents must be certified by the registrar of companies
  3. Partnerships
    • Application Form
    • Partnership Profile
    • Partnership deed duly certified by Registrar of Companies
    • Registration Certificate, certified by Registrar of Companies
    • Two (2) passport size photographs for each partner
    • Proof of identity of partners/signatories by a valid passport/driving permit/identity card
    • Audited Accounts for the last two years prepared by a firm of registered certified accountants.
  4. Sole Proprietorships
    • Application Form
    • CV of proprietor
    • Registration Certificate duly certified by Registrar of Companies.
    • Declaration Terms (certified).
    • Two (2) passport size photographs.
    • Proof of identity by a valid passport/driving permit/identity card.
    • Audited Accounts for the last two years prepared by a firm of registered certified accountants.
  5. Associations, NGO's, CBO's, Committees etc.
    • Application Form
    • Association/NGO/CBO/Committee Profile
    • Minutes indicating decision and authority to borrow
    • Constitution/Memorandum of Understanding
    • Registration certificate
    • Two (2) passport size photographs of each signatory
    • Proof of identity of signatories by a valid passport/driving permit/identity card
    • Audited Accounts for the last two years prepared by a firm of registered certified accountants.

General Requirements

  • Client should have a current account with Housing Finance Bank
  • Projected cash flows statements for the business for at least 12 months.
  • Bank statement for the last 12 months.
  • Proof of Income e.g. tenancy agreements, contracts, LPOs etc
  • Copy of title deed being offered as security
  • Copy of Valuation report prepared by a firm of bank-approved valuers.
  • Trading Licence
  • Credit Reference Bureau (CRB) registration confirmation form or card.

Benefits

  • Saves customer from unnecessary interest costs as interest is calculated on the daily outstanding and charged monthly.
  • Flexibility to withdraw within the agreed limit at any time.
  • The package is renewable
  • No fixed repayment program as account fluctuates from debit to credit.

For further information, contact us or call +256-41-4259651/2.

Customer Care

+256-41-4259651/2+256-41-4341429