How to apply for UBA SME Loans and Advances & requirement

Last Updated on July 1, 2024 by admin

Entrepreneur that understand Money, Management and Marketing who also keep positive attitude towards their business will definitely succeed

When you embracing the right mindset, you can change not only the course of your startup, but your whole business understanding through input-output ratio, but we are often constraint with finance especially in developing nations around the world which Nigerian are among.

To be successful in Business you must know how to take risk,understand finding resources, management system, accounting, new techniques of production and delivering services to customers and how to maintain the quality.

SME’s whether start-up or exiting one, have to bear in mind they need a suitable planning of business and evaluate it constantly in the light of their situation.

Also read:How to apply for UBA salary advance/Payday loan,Asset Finance and personal loan

United Bank of Africa has unveiled SME Loans and advances with collateral-free loans of up to millions and pay back over 36 months.

The loan enable SME’s get Asset finance loan and expand business in the following sectors in Nigeria.

1.Food & Drink
2.Wholesale/Retail Trade & Key Distributors
3.Entertainment & Recreation
5.Green Economy and Fintechs
7.Professional Firms & Service Providers.
8.Educational Institutions
9.Other viable Business Segments

The Minimum amount is ₦ 4Million while the Maximum amount ₦ 50Million. The bank also offer School Loans,Young Entrepreneur Finance Scheme with vibrant and bankable business ideas and who require capital to finance and grow their small and medium scale businesses and pay for tuition fees

UBA Medical Loan is another loan for SME’s that is designed to provide short term loan and asset finance to registered hospitals, Pharmacies, medical laboratories, diagnostic centers, optical and dental clinics to smoothed their expansion/facility upgrade and equipment purchase as well as working capital needs.

When you Need a quick discount for unpaid invoices as SMS’s UBA IDF has got you covered. This enables the bank discount invoice from 3rd parties. They also offer Temporary Overdraft of 30day offer to cover up shortfalls in your working capital.

Read:UBA Money Transfer: How to Transfer Money from and to United Bank of Africa *919#

Requirement to apply for UBA SME’s loan

UBA Asset Finance96

To apply for UBA asset finance you must get Loan application form (LAF)
– Copy of a pro-forma invoice from a vendor approved by the bank.
– Irrevocable domiciliation of business proceeds with UBA Plc.
– Executed Bill of sale for assets financed.
– Duly executed offer letter.
– Evidence of a minimum equity contribution of 30%.
– Applicant’s undertaking to formally inform the Bank immediately if asset is relocated in the event that the customer’s relocates to another address.
– Insurance premium on each of the assets to be financed.

UBA Medical Loan

1. Must be dully registered and in good standing with Medical and Dental Council of Nigeria (MDCN), Association of General and Private Medical Practitioners of Nigeria (AGPMPN), Pharmacist Council of Nigeria (PCN), Pharmacist Society of Nigeria (PSN)
2. Must have been a UBA customer for a minimum of 6 months or 12months with other banks

UBA School Loans

1.Evidence of registration with regulatory bodies
2. Letter of undertaking by the business owner to domicile all business proceed over the facility tenor Payment mandate
3. Applicant’s letter of request written application /facility request
4. Duly completed KYC form.

UBA Young Entrepreneur Finance Scheme

The product is targeted at young entrepreneurs from across Africa with workable or thriving business ideas that have strong potential for growth.

How to Apply for UBA SME’s Loan

Visit the nearest UBA branch to apply OR Call: +234 700 2255 822 (0700-CALL-UBA) or +234 1 280 8822 (2808UBA) or +234 1 631 9822



About admin

Meet Ogbeide Frank, popularly known as perere, a blogger who loves writing about finance and Tech. He studied Business administration at the Ambrose Alli University Ekpoma and Mobile Communication at Orange College Malaysia .Frank have worked as a banker and consultant in variety of Nigeria agencies For Advertisement, Content marketing andsponsored post: contact :
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