#yakocares
Term and Corporate Term Loan
It can either be a personal loan or business loan
A Term Loan is a personal or business loan with a limit of UGX 50,000,000; whereas
A Corporate Term Loan is a personal or business loan of any amount beyond UGX 50,000,000.
PURPOSE.
PERSONAL LOAN: For flexible use. It may involve a mixture of private and business expenses. Deployment of the loan is subjective.
BUSINESS LOAN: To cater for business expenses only. Deployment of the loan is objective.
REQUIREMENTS: (Individual)
- 2 Passport size photographs.
- National ID (for Ugandans) or Valid Passport, Visa and Work permit (for foreigners).
- Pay slips from work or receipts (business) for the last 3 months.
- Appointment letter from work and work ID (for employees).
- Bank statement or Mobile Money Statement for the last 6 months.
- Financial Card.
- Savings Account with Yako Bank.
- Security; Land title or Car logbook with Comprehensive insurance.
- Valuation Report of the security done by Yako Bank.
- Proof of Permanent Residence (Water or Electricity bill in the borrower’s names).
- Cheques (6).
- 2 Guarantors (Guarantor requirements)
- Cheques (in case the borrower does not have cheques).
- Proof or Permanent Residence (Water or Electricity bill in the borrower’s names) Only if the borrower has a temporary residence.
- National ID (for Ugandans) or Valid Passport, Visa and Work permit (for foreigners).
- 1 passport photo each
REQUIREMENTS: (Company)
- Certificate of Incorporation or Registration.
- Memorandum and Articles of Association.
- Form 7, 18 and 20.
- Partnership deed in case of a partnership.
- Board resolution (account opening and loan with Yako Bank) registered with URSB.
- Trading license (valid).
- Tax Certificate.
- Audited Books of Accounts.
- Bank statement or financial statements for the last 6 months.
- Proof of works done and current works e.g. contacts.
- Company Debenture Form.
- Financial Cards (for the company and its directors).
- Company Cheques (6).
- National IDs of directors (for nationals), or valid passport, visa and work permit (for foreigners).
- Passport size photos (2 each) for the directors/signatories to the account.
- Security; Land title or Car logbook with Comprehensive insurance.
- Valuation Report of the security done by Yako Bank.
- 2 Guarantors (Guarantor requirements)
- Cheques (in case the borrower does not have cheques).
- National ID (for Ugandans) or Valid Passport, Visa and Work permit (for foreigners).
- 1 passport photo each
- Company Savings Account with Yako Bank
