Equity Bank Uganda has announced a school financing facility of up to Shs 500 million to support schools and parents facing cash flow challenges at the start of the second academic term. The initiative aims to cover operational expenses such as salaries, supplies, and infrastructure improvements, which often precede fee collections.
According to the bank's statement, the financing is available to both private and government-aided schools, with flexible repayment terms tailored to the school's cash flow cycle. Parents can also access individual loans for school fees, with amounts determined by their repayment capacity.
This move comes as many educational institutions in Uganda struggle with liquidity during term transitions, a problem exacerbated by delayed fee payments and rising operational costs. Equity Bank's product is designed to bridge this gap, ensuring uninterrupted learning.
Eligible schools must meet the bank's credit criteria, including a proven track record of enrollment and financial management. The bank encourages interested parties to visit their nearest branch for application details.
