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13.10.2008 Business & Finance

Loans Now Available For Corporate Bodies

By Clement Atagra -

The UT Financial Services, has expanded its range of services to include corporate institutions that require loans.

This is in realisation of the fact that these corporate institutions often have difficulties accessing loans within a short period of time from the banks.

The UT has since its inception 11 years ago concentrated on providing loans to small and medium scale enterprises in the country.

The Head of Operations of the UT Financial Services, Capt.Budu Koomson introduced this product, known as the Gold Plan at a luncheon, organised by the company in collaboration with the Association of Ghana Industries (AGI) in Accra on Thursday.

The luncheon, which was attended by officials of the two bodies and other top businessmen, was under the theme, “The credit crunch in Ghana, UT solution”.

Capt.Koomson said the company already offers services such as emergency loans, special loans, stop gap loans, working capital financing and import and export financing among others.

These, he said were targeted at individuals and other institutions not very well structured.

He said under the Gold Plan, the minimum loan offer is GH¢100,000 delivered within 48 hours and repayable within three months.

Explaining further, he said that due to the monetary cash flow deficits and the slow pace of speed of transaction in the banks, the company thought it wise to fashion out products specially to cater for that need.

Capt.Koomson said a prerequisite for qualification to access the loans is for the institution to have registered with the Registrar General's Department for at least three years.

The Chief Executive Officer of Unique, Prince Kofi Amoabeng disproved the perception that access to credit was one of the major challenges in the country.

The President of AGI, Tony Oteng-Gyasi commended UT for their continuos innovation in products and services.