Certificate of business registration/incorporation
Memorandum & articles of association (for Corporate and SME)
Latest 6 months bank statements (12 months if Business is seasonal in nature)
Proforma invoice from the dealer/vendor
Latest 3 year financials, tax clearance certificate and cash flow projections. Audited financials are required for higher exposures. (For Corporate and SME)
Copies of contract where asset sought is to meet contractual requirements. (For Corporate and SME)
Urunana product is offered for Community Banking, basically group of people who have self-selected into groups of min 8 to max 15 individuals. The priority is given to Low income and micro entreprenuers particularly women and youth living inperi - urban and rural areas
Ubwizerane is a graduation product offered to Community bank customers who have demonstrated growth, and who require larger loans to continue growing their businesses, and who have a good repayment record.
KES 500,000
Crops can be: Seasonal Repayment holiday with monthly interest
Livestock can be: 1 to 6 month grace period then monthly principal and interest (P&I)
Clients/prospects in the various business units’ target markets fulfilling the risk acceptance criteria set by the Bank, but with a proven record of monthly income to be channelled in our books.
KES 200,000,000
The IPF will be used to finance all types of insurance policies except medical and life insurance policies.
The Bank will only finance premiums for insurance policies that are current and continuing or newly written policies.
A commitment from the insurance company guaranteeing the repayment of the unutilized premium portion in case the customer fails to honor its repayment obligations within a period not exceeding 7 days.
Upfront payment of first two installments.
Personal guarantee of the shareholders for the total facility amount plus accrued interests.
Additional collaterals may be requested depending on the risk profile of the client.
This product targets mainly active clients particularly women and youth. These are clients who are graduated from the community bank to join the Solidarity group after finishing a certain number of cycles for them to access a high loan amount
Safi product is targeting Self help groups and Voluntary Savings and Loan Association (VSLA's) in the deep rural areas. We partner with NGO’S who link their Savings Groups with VFR to access higher loans.
KES 500,000
Matured groups after 12months of formation
Repayment frequency:Monthly
Recomemded by an NGO / Facilitating Agency / Local Authority
ID cards,
Group constitution,
Recommendation from cell phone company
6
Project finance, Agriculture Finance and Equipment loan
To finance fully fluctuating working assets of a business, mainly stocks and trade debtors and not intended to finance permanent working capital, business expenses nor any form of long term assets.
Verifiable net operating cash flow (averaged over 2 years) equal to or greater than (4) times the size of the proposed overdraft limit.
Tangible and readily realizable security in one or more of the following forms: a. Charge over the operating assets of the business for the full amount of the limit; b. Goods in transit being shipped to the order of the bank (bills of lading made out to the order of the Bank); c. Pledge of specific stocks under the control of the bank in a bonded warehouse; d. A full set of Bills of Lading with BPR endorsed as consignee; e. A registered mortgage over residential or commercial property with a forced sale value (FSV) by an approved valuer of 125% of the limit
Fixed charge over fixed assets
Set off on deposits held with the Bank
Bank guarantees
Negotiable instruments with acceptable liquidity such as Bonds, Repos etc.
All security is required to be fully insured in sufficient amount to repay BPR, with BPR as the named loss payee. Current insurance policies from acceptable insurers to be held.
Overdrafts are high risk credit products and their use should be restricted to situations where other short term credit products are inappropriate or unworkable
Businesses that demonstrate good current account credit turnover (banking) or businesses that hold relatively high levels of stocks and debtors evidenced by periodic reports. In all cases, the account must record fluctuation of at least 50% of the facility amount per quarter.
A minimum of Rwf 5 Mio should be allowed.
Facility letter signed by the customer to confirm his acceptance of the terms of the bank’s offer
Signature by the borrower to the Bank’s Standard Terms and Conditions for Credit Facilities
Overdraft agreement on the bank’s standard form setting out the conditions for conduct of the overdraft.
For a company:
Copy of the company’s certified statutes and Copy of the certificate of registration.
Resolution by the Board of the company authorizing the company to borrow from the bank We should check for any negative covenants
For partnerships:
All documents must be aligned with partners’ deed and signed in accordance with the powers stated in the partnership deed.
For sole traders:
Copy of the certificate of registration must be obtained.
Tax clearance certificates
Adequate Insurance
Security documentation appropriate for the security concerned as per the Credit Policy checklist.
A copy of latest tax clearance certificates otherwise the current account with RRA.
List and ageing of debtors and creditors (if applicable)
Product designed for clients in need of working capital for clients with emergency of money for finance their tenders or any other urgent need justified by the client.
An overdraft loan is a lending arrangement on a current account that permit the customer to over withdraw on current account up to the specific limit with a specific expiry date
KES 500,000,000
Open account in UB
Procurement contract, sub-contract or Purchase Order
20% of customer contribution
Experience in business or in tender execution
Project description (customer needs statement)
Application letter
Company Registration Certificate/ID copy of the applicant and his guarantor
Legal status certificate - RRA Tax Clearance Certificate
Valuation report of collateral (done by a valuer who has a partnership with UNGUKA Ban
The invoice Discount Facility enables customers to bridge the debtors' gap and continue with their business activitieswhile waiting settlement of invoices
Existing business with current on going contract and none settled invoices
Invoice Discount is a structured finance facility provided by the Bank in FRW to enable its customers to access to cash while awaiting settlement of their invoices. Maximum up to 70% of the invoice value.
The source of repayment for invoice discount is the proceeds from the pending invoice itself.
The facility will be settled upon receipt of funds. In the event that there are no funds on repayment due date, the RM must immediately take action.
In all cases a second way out must be provided in the form of acceptance and easily realizable security. This may consist of the following: A registered mortgage over residential or commercial property; b. Floating charge over the operating assets of the business for the full amount of the facility; Right of Set off on deposits held with the Bank
Bank guarantees
Adequate insurance where applicable
Promissory Note, Assignment of Receivables, and Joint surety of shareholders are taken.
Facility letter signed by the customer to confirm his acceptance of the terms of the bank’s offer.
Original invoice approved by the buyer.
For a company:
Copy of the company’s certified statutes and Copy of the certificate of registration
Resolution by the Board of the company authorizing the company to borrow from the bank
For partnerships:
All documents must be signed by all partners (associates) or in accordance with the powers stated in the partnership deed.
Copy of the certificate of registration must be obtained
For sole traders:
Copy of the certificate of registration must be obtained.
Security documentation appropriate for the security concerned as per the Credit Policy checklist.
A copy of latest tax clearance certificates or the current account statement with Rwanda Revenue Authority.
Full secured loan by discounting the invoices that have extended maturity dates to enable our clients to overcome their cash flow shortage -. Maximum 80% of invoice value
Open account in UB
Procurement contract, sub-contract or Purchase Order
20% of customer contribution
Experience in business or in tender execution
The invoice has to be paid through your UB account
Automatic deduction from your account once in voice payment is made
Loan Payment period is equal to the invoice maturity
The Financing Gateway provides you with a free listing of the many financing instruments available for MSMEs. It enables you to filter the instruments that match your needs and click through to the –financing provider’s Internet pages or Contact agent details to find out more and apply.
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