Post Bank to dedicate up to 100 Million for financially distressed SMEs.
Government opened up the economy fully but sadly, there are businesses that are drowning in debt and facing closure as well. According to the 2021 report from Economic Policy Research Center (EPRC), 54% of businesses closed operations for quite some time during the pandemic and 50% of businesses recorded a decline in sales. Some of the businesses have since closed operations permanently.
Following the recent reopening of the economy, PostBank Uganda has launched, its Small Business Recovery Fund, to support the small and medium enterprises that were impacted by the COVID-19 pandemic, to bounce back.
This loan can be accessed from any of our 49 branches countrywide.” She added that, “We are committed to transforming lives and livelihoods by availing affordable and sustainable financial services.”