Cente Youth Loan

This is a medium-to-long term loan targeting the youth who are economically active ,rural and urban low -to-moderate regular income earners under the micro and retail segments for the purpose of financing existing businesses that provide employment to at least four people on full time basis.

Eligible Sectors
The Fund is available to support business ventures owned by young enterprenuers and eligible sectors include primary agriculture, agro processing,manufacturing,fisheries,livestock,health,transport,education,ICT, Tourism, construction,printing and service contractors among others.

Product features: 

Minimum amount of UShs 100,000 and Maximum of Ushs 5m for individuals
Minimum amount of Ushs500,000 and maximum of Ushs 25m for legal entities with at least five eligible shareholders/ partners
Maximum tenor of 4 years (2 years for working capital loans)
Repayment through regular and equal monthly , bi monthly, quarterly, or staggered instalments
(including principal and interest) based on the nature of business cash flow.Regular monthly instalments are preferable
Grace period maximum of one year applicable on a case by case basis, depending on the nature of
Fixed interest rate of 15per cent per annum charged on fixed rate
Arrangement/Origination fee rate of 1per cent of the loan amount (once only fee payable upon approval)

Eligibility criteria
Eligible borrowers shall be expected to comply with their local business licensing requirements
Eligible enterprises must have been in operation for a minimum period of three months.
Each business project should be able to provide employment to atleast four people by the end of the loan period.
If approved, eligible beneficiaries should be willing to receive advice and be ready to participate in financial skills training and mentoring fo proper business management.
Ugandan youth(between 18 and 35 years)
Must have or open a bank account with Centenary bank

Basic Requirements: 

A) Individuals
Proof of age
Proof of nationality and residence e.g passport, brith certificate, voter's card, utility bill or parents' bill,local council letter or tenancy agreement.
Two guarantors who must be persons of repute within the local community.
CRB card required of only successful applicants.
Any other requrements under the relevant laws of Uganda

Certificate of registration / incorporation
Certified Memorandum and Articles of Association
CRB card required of only successful applicants
Any other requirements under the relevant laws of Uganda

C) Partnerships
Partnership deed
Certificate of registration
CRB Financial Card
Valid identification (passport, voter 's card or driving license) of all signatories
Any other requirements under the relevant laws of Uganda
Assets of the borrowing enterprises where we are lending to legal entities plus shareholder personal guarantees
In the absence of the above, the borrower will be required to provide security in accordance with the bank policy