Standard Chartered Bank launch new products for SME banking
Standard Chartered Bank (SCB), last week, unveiled two new business products tailored to SME’s, at the Uganda Manufacturers Association Conference. The Bank have expanded their portfolio of finance products for SME’s by following on from their hugely successful Business Financial Services Model. The first new product is a working capital financing product with funds revolving between sh50m and sh1b, expected to fluctuate fully in at least 3 months. The other one is invoice discounting, in particular for companies dealing with multi-nationals. . Francis Mills-Robertson, SCB's head of consumer banking, says: “SCB is not a new entrant to the SME sector. We have offered services to this sector for 90 years. Until recently, we served this segment successfully on a BFS platform”.
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