Produce dealers Tipped on Equity Bank ‘s Eazzy Loans at 5.6% Interest

Produce dealers in Lira City have been urged to embrace Equity Bank’s Eazzy Loan product, which offers a highly competitive interest rate of 5.6%, to support and grow their businesses.

This call was made during the Equity Bank Produce Dealers Engagement Meeting held at Good News Hotel, Lira City, on Friday, 19th September 2025. The meeting was part of the bank’s broader mission to provide integrated financial services that socially and economically empower business communities.

The Eazzy Loan, often referred to as a “one-month loan,” is a short-term facility designed to be repaid within 30 days. It has been well received by the business community in the Lango sub-region and across Northern Uganda for its flexibility and speed of disbursement.

Speaking during the event, Mr. Joseph, the Lira Branch Manager, outlined the requirements for accessing the grain/produce working capital loan. These include:

• A valid business operation license

• Business records (weighbridge notes, delivery notes, supplier invoices, etc.)

• Vehicle logbooks or alternative movable asset documents

• A 12-month bank statement (from any Financial Institution)

• A tenancy agreement or proof of business ownership

• A copy of the applicant’s National ID

• Offer letters for any running loans from other banks

• Collateral (e.g., land titles, motor vehicles, land agreements)

• A written loan application detailing tenure, payment plan, collateral, and loan purpose

Mr. Joseph emphasized that the loan process has been simplified, noting, “The bank has revised many things you can now withdraw up to 100 million shillings without any problems. Produce trading is time-sensitive, so we introduced the grain trade limit to allow faster processing.”

He encouraged produce dealers to embrace the grain trade limit system, explaining that some customers can receive funds within two days.

Mr. Peter Ssemakalu, Regional Manager for Equity Bank Greater North, expressed gratitude to the produce dealers for turning up in large numbers and encouraged them to explore the bank’s range of products, including Hospital Cash and Eazzy Loans.

“If you are banking well, you qualify for the lowest interest rate,” he said. “Thank you for choosing Equity Bank as your financial partner. Your trust in us is not taken for granted. Our third engine of growth is sustainability—preserving the environment for future generations.”

Ssemakalu stressed that Equity Bank does not finance environmentally destructive activities such as charcoal burning and deforestation. He highlighted the bank’s efforts in Environmental Social Governance (ESG) through tree planting campaigns, partnerships with schools, and student sponsorships.

During the engagement, Patrick Okello, a local produce dealer, appealed to the bank to consider the practical challenges farmers face during loan recovery. In response, Mr. Ssemakalu advised clients to maintain open communication with their Relationship Managers for timely assistance and possible loan restructuring.

Mr. Brian Ddamba, Equity Bank Uganda’s Business Development Manager for SMEs, highlighted the importance of SMEs in Uganda’s economy. “They pay taxes, support distribution networks, serve as markets for corporates, and provide the largest source of employment,” he said. “That’s why we’re here—on the ground to engage with you directly and support your growth.”

Ddamba added that Equity Bank offers special SME loans ranging from UGX 10 million to UGX 10 billion, with interest rates as low as 15%. Repayment periods range from six months to five years. Additionally, smallholder farmers can access loans ranging from UGX 10 million to UGX 20 million to support their agricultural activities.