uab MSME Loans: Empowering Small and Medium Business Growth
uab bank specialize in offering MSME (Micro, Small, and Medium Enterprises) loans dedicated to addressing the financial requirements of burgeoning business owners seeking to amplify their operations.
- Eligibility Criteria:
- Business Documentation: Loan applicants must furnish a valid business license or company registration, ensuring legal and formal establishment.
- Insurance or Membership Requirements: For uninsured applicants, the presentation of the SME Member Card issued by UMFCCI is mandatory, verifying association with the Small and Medium Enterprise sector.
- Business Tenure: Entrepreneurial applicants are expected to demonstrate a business tenure of at least one year or more, emphasizing stability and experience in their trade.
- Loan Specifics for Collateral-Free Applications:
- Collateral Consideration: Borrowers opting for loans without collateral must allocate 3% of the approved loan amount to CGI Myanma Insurance, as a security measure.
MSME Products | Minimum | Maximum | Tenure | Interest |
Non-Collateral | 5 Mn | 20 mn | 2 years | Up to 14.5% p.a |
Collateral | 10 Mn | 50 mn | 3 years | 10% p.a |
Loan Facility Specification: Term Loan Amortization (TLA)
Loan Tenure: 2 to 3 years
Permissible Loan Amount: Ranging from a minimum of 5 Mn to a maximum of 50 Mn (subject to Collateral evaluation)
Interest Rate: Varied between 10% p.a to a maximum of 14.5% p.a (depending on Collateral assessment)
Loan Facility Type – Term Loan Amortization (TLA)
Loan Tenure – 2 to 3 years
Allowed Loan Amt – minimum 5 Million to maximum 50 Million (based on Collateral)
Interest Rate – 10% p.a to up to 14.5% p.a (based on Collateral)