The Small and Medium Enterprise (SME) Sector in Ghana includes Micro Enterprises, Small Enterprises, Artisans & Village Industries, Medium Enterprises, Service Sector units & individual sub-sector units. SME is fast-growing sector in the local economy, with an increasing number of universal banks creating innovative products to give highest importance to financing SMEs as part of their strategic growth plan. Growth resulting from globalization and liberalization is most visible and profound in the SME segment, making SMEs growth engines for economic development. Thus, the relationship between the banker and the SME customer has also become most crucial and competitive.

uniBank Ghana Limited has positioned itself as the trusted Bank for SME financing and has therefore put internal structures in place to give focused attention to individuals and companies under the SME bracket. A core aspect of the Bank’s primary focus is to provide a comprehensive range of financial solutions and products to its SME customers to better equip them to grow their businesses. As part of the Bank’s strategy to increase its support to SMEs, uniBank has taken the initiative to increase its loans and advance portfolio for the 2011 fiscal year.

The Bank’s commitment to the SME industry remains paramount, with a focus on identifying visionary entrepreneurs to nurture into business giants. A premium is placed on ensuring the customer’s total satisfaction with a variety of credit facilities for their different needs, which include the following:

(a) Term Loan: For acquisition of capital goods (including second-hand) fixed assets, vehicles, plant & machinery, purchase of land, construction of buildings etc.
(b) Working Capital by way of Cash Credit, Overdraft etc for:

uniBank offers SMEs working capital finance to meet operating expenses, purchasing inventory, receivables financing, either by direct funding or by issuing letter of credit. These may be in the form of funded facilities, where the Bank provides funding and assistance to purchase business assets or meet capital expenditure. They may also be non-funded facilities, i.e. the bank can issue Letters of Credit (L/C) or can give a guarantee on behalf of the customer to its suppliers for the procurement of goods and services on credit.

Working capital credit facilities may also be used to

• a) Purchase of raw material, components, stores, spares and maintenance of stock of these items at minimum level and stock in process and finished goods.
• b) Finance against receivables including receipted invoices.
• c) Meeting marketing expenses where the units have to incur large-scale expenditure towards marketing of their products.
• d) Bills Purchase / Discounting under L/C or outside L/C
• e) Export Credit Facilities
• f) Letter of Credit on sight basis for purchase of raw material/capital goods
• g) Bank Guarantees for Performance, Advance Payment, Tender Security Deposit, Guarantees for getting orders, for procurement of raw materials etc.

uniBank offers the above and other tailor-made products to SMEs at competitive interest rates that are commensurate with the client’s credit rating. uniBank Ghana Limited's SME loan policy is framed to provide hassle-free credit for working capital needs as well as long-term requirements, taking into account the nature of business, cyclical trends, cash flow projections, peak time requirements and any eventuality of unforeseen spurt in the SME business. In order to provide better customer service and ensure that loan applications are dealt with expeditiously, uniBank has put in place an efficient structure of loan processing, appraisal and approval to give our clients quality, timely service.