Equity Bank Uganda introduces solution for business financing with the unveiling of Stock Financing

Equity Bank, a leading financial institution in Uganda renowned for its innovative and customer-focused approach has announced its latest credit product: Eazzy Stock Financing.

Eazzy Stock is a digital credit offering designed to empower businesses by enabling them to unlock the value of their inventory and access essential capital for growth and expansion.

This product specifically targets agents, distributors, stockists, and retailers who sell products or services from an Anchor or Manufacturer. It provides convenient access to working capital funds whenever needed.

During the launch event held at Sheraton Kampala Hotel, Managing Director Anthony Kituuka expressed his excitement about the product, stating, “At Equity, we are committed to providing innovative financial solutions that empower businesses and drive economic growth. With the introduction of Eazzy Stock Financing, we offer our customers a powerful tool to unlock the potential of their inventory and achieve their business goals. This product aligns with our mission to support entrepreneurship, expand economic opportunities, and contribute to the success of businesses in Uganda and beyond.”

Stock financing, also known as inventory financing, allows businesses to borrow working capital against their existing stock, providing flexible and convenient financing options. Eazzy Stock Financing is tailored to meet the specific needs of entrepreneurs, small and medium-sized enterprises (SMEs), and larger manufacturers across various sectors.

Kituuka explained that Equity developed Eazzy Stock Financing to support business recovery toward the end of the COVID-19 pandemic. The product allows businesses to leverage their inventory as collateral to secure loans, eliminating the need for traditional collateral or personal guarantees. This innovative approach enables businesses to access working capital while minimizing financial risks.

Through this new lending service, Equity Bank aims to address common business challenges such as cash flow management, seasonal demands, and inventory optimization. By providing quick and efficient access to funds, Eazzy Stock Financing empowers businesses to manage operational expenses, invest in growth initiatives, and capitalize on emerging market opportunities.

Equity’s Eazzy Stock Financing offers several benefits to customers, including:

1. Increased cash flow: Businesses can unlock the value of their goods and services to receive immediate funds for day-to-day operations or new projects.
2. Flexible repayment options: Tailored repayment schedules and competitive interest rates ensure businesses can meet their financial obligations comfortably.
3. Streamlined application process: Equity Bank has simplified the application process, allowing stockists and retailers to apply for stock financing with ease and speed. The loan application form can be filled out once, and the rest of the borrowing process can be conducted from the convenience of a mobile phone.
4. Interest based on margins: The commission charged is based on the margins earned, making it suitable for entrepreneurs of the Muslim faith.

Equity Bank continues to leverage its extensive branch network, Equity Duuka agents, cutting-edge technology, and customer-centric approach to redefine the financial landscape. The launch of Eazzy Stock Financing marks another milestone in the bank’s journey to provide tailored solutions that cater to the evolving needs of businesses.