Compare business loans in Uganda
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Cheapest verified rate
Uganda Development Bank SME Kazi Loan
★★★★☆
SME term and working capital facility from a development finance institution
Loan Type
Uganda Development Bank Limited, the government-owned national development finance institution
Licence
Established SMEs with turnover inside UDB's thresholds that can survive a formal appraisal
Best For
bank
Type
Pros
- UDB publishes an interest band of 10-12% per annum, far below commercial bank SME pricing in Uganda
- Tenure of up to 6 years, which is long enough to fund actual capital expenditure
- Business advisory support is bundled in, not sold separately
Cons
- The UGX 50 million minimum shuts out micro and most small traders entirely
- Turnover ceilings apply (up to UGX 100 million for small, UGX 360 million for medium enterprises), so growing businesses can age out
- Development bank appraisal is slower and more document-heavy than a commercial bank or digital lender
Fees, eligibility & documents
Fees
Interest rate10-12% per annum, per UDB's page
Appraisal feeOne-off 0.75%; 1% for short-term working capital, with 0.75% on revolving amounts, per UDB's page
Eligibility
- Qualify as a small or medium enterprise under UDB's definitions
- Small enterprise turnover up to UGX 100 million; medium enterprise turnover up to UGX 360 million
- Financing need between UGX 50 million and UGX 720 million
Documents needed
- Business registration and statutory documents
- Financial statements and business plan or projections
- Security and other documents as set out in UDB's application brochure
Centenary Bank CenteSME and Corporate Business Loans
★★★★☆
SME and corporate term and working capital loans
Loan Type
Commercial bank supervised by Bank of Uganda
Licence
Established SMEs with three years of audited accounts and titled security
Best For
bank
Type
Pros
- Centenary publishes a maximum of UGX 20 billion and terms up to 10 years, so the product scales with the business
- Grace periods of up to 12 months are available case by case, which matters for agriculture and construction cycles
- Interest is charged on a reducing balance with repayment frequency customised to the borrower's cash flow
Cons
- The documentation bar is high: three years of audited financials, a valuation report by the bank's approved valuers, and 12 months of bank statements
- No interest rate is published, so you cannot benchmark it before applying
- Realistically requires titled property as security, which excludes many informal Ugandan businesses
Fees, eligibility & documents
Fees
Interest rateNot published; Centenary states 'attractive interest rates' charged on a reducing balance — ask for the figure
Maximum loan and termUp to UGX 20 billion over up to 10 years, per Centenary's page
Eligibility
- Registered SME or corporate operating in trade, transport, communication, manufacturing, agriculture, government, construction or services
- Three years of audited financial statements
- Acceptable security, typically titled property with a valuation by the bank's approved valuers
Documents needed
- National ID and business registration documents, trading licence and TIN
- Three years of audited accounts, a statement of assets and liabilities dated within three months, and 12 months of bank statements
- Property title deeds, a valuation report dated within four years, and CVs of the principals
Stanbic Bank Uganda Working Capital Loan
★★★★☆
Short-term working capital facility, 1-12 months
Loan Type
Commercial bank supervised by Bank of Uganda
Licence
Traders and suppliers with confirmed orders and six months of bank statements
Best For
bank
Type
Pros
- Repayment frequency can be weekly, monthly or quarterly, matched to how the business actually collects cash
- The pricing basis is disclosed as prime plus a margin, which is more transparent than an unnamed 'attractive rate'
- Sized against confirmed projected cash flow rather than a rigid formula
Cons
- Tenor is only 1 to 12 months, so it cannot fund equipment or premises
- A 2% arrangement fee on a facility repaid within months is a heavy front-loaded cost
- The margin over prime is not published, so the actual rate is unknown until you are quoted
Fees, eligibility & documents
Fees
Interest rate basisPrime plus a margin, per Stanbic's page; the margin is not published
Arrangement fee2% of the loan amount, per Stanbic's page
Eligibility
- Registered business with an account and demonstrable projected cash flow
- Six months of business bank statements and a 12-month cash flow forecast
- Proof of equity contribution and the source of those funds
Documents needed
- Business legal documents and financial card
- Income statement, balance sheet, cash flow statement and a 12-month cash flow forecast
- Six months of business bank statements and proof of equity contribution
Absa Bank Uganda business loans
★★★★☆
SME unsecured loan, overdraft, asset finance, term debt and school bridge loan
Loan Type
Regulated by Bank of Uganda (company registration number 4227)
Licence
Businesses at least three years old that want unsecured funding without pledging property
Best For
bank
Type
Pros
- Absa publishes unsecured business loans up to UGX 200 million and unsecured bid bonds up to UGX 500 million
- Unsecured options mean no property title is required, which is rare in Ugandan SME lending
- A dedicated school bridge loan exists for the specific cash-flow shape of private schools
Cons
- Your business must be three years or older, so start-ups are excluded outright
- You need an active Absa Uganda business account before you can even apply
- Tenor caps at 36 months and no interest rate is published, only that rates are fixed
Fees, eligibility & documents
Fees
Interest rateFixed rates, per Absa's page; the rate itself is not published — ask for it
Maximum unsecured loan and tenorUp to UGX 200 million over up to 36 months, per Absa's page
Eligibility
- Active Absa Uganda business account
- Business three years old or older
- Business registration documentation presented at application
Documents needed
- Business registration documentation
- Financial and banking records as requested during assessment
No collateral
Numida
★★★★☆
Collateral-free digital working capital loan for micro and small businesses
Loan Type
Licensed under the Uganda Microfinance Regulatory Authority (UMRA), per Numida's own site; also registered with the Personal Data Protection Office, NITA and the Financial Intelligence Authority
Licence
Small traders and shopkeepers with no title deed and no audited accounts
Best For
mfi
Type
Pros
- No collateral and no audited accounts required — a National ID and basic business details are the stated requirements
- Numida publishes loans of up to UGX 30 million with approval within 24 hours
- Disbursed to mobile money, so no bank account is needed to receive it
Cons
- Numida does not publish its interest rate or fees on its site, so you cannot compare the cost before applying
- Short-tenor unsecured micro-lending is inherently expensive; expect a cost of credit far above bank SME rates
- Loans are tied to business cycles, meaning short repayment windows that punish a slow trading month
Fees, eligibility & documents
Fees
Interest and feesNot published on Numida's site; ask for the total repayable amount in shillings before you accept
Maximum loanUp to UGX 30 million, per Numida's site
Eligibility
- Operating a micro or small business in Uganda
- Ugandan National ID
- Able to provide basic business details through the Numida app
Documents needed
- Photograph of your National ID
- Basic business details entered in the app
Formerly Pride Microfinance
Pride Bank Business Loan
★★★★☆
Business loan for micro, small and medium enterprises
Loan Type
Tier II credit institution supervised and regulated by Bank of Uganda; deposits protected by the Deposit Protection Fund of Uganda to UGX 10 million, per Pride Bank's own statement
Licence
Micro and small businesses that are too informal for a Tier 1 bank but want a regulated lender
Best For
mfi
Type
Pros
- Pride states loan processing within three days and a flexible repayment period of up to three years
- Regulated deposit-taking institution with an explicit Deposit Protection Fund statement on its own site
- Thirty years of lending to the segment most Ugandan commercial banks will not touch
Cons
- No interest rate or fee schedule is published on the site, which is the single biggest gap
- A three-year maximum tenor limits what the loan can realistically fund
- As a Tier II credit institution it cannot offer chequing accounts, so it is not a full banking relationship
Fees, eligibility & documents
Fees
Interest rate and feesNot published on Pride Bank's site; ask for the effective rate and total cost of credit
Repayment periodUp to 3 years, with processing stated within 3 days, per Pride Bank's site
Eligibility
- Micro, small or medium business operating in Uganda
- Business records and security requirements as assessed by the branch
Documents needed
- National ID and business registration or trading licence
- Business records and security documents as requested at assessment
