The Independent Uganda: You get the Truth we Pay the Price
Kampala, Uganda | THE INDEPENDENT | Equity bank has launched its latest credit product- Eazzy Stock financing.
Eazzy Stock is a digital credit product designed to empower businesses by providing them with the opportunity to unlock the value of their goods and access much-needed capital for growth and expansion.
The product targets agents, distributors, stockists or retailers who are onward sellers of products or services of an Anchor or Manufacturer. It allows these categories to access funds for working capital conveniently as and when required.
Speaking at the launch of the product Thursday at Sheraton Kampala Hotel, Managing Director Anthony Kituuka expressed excitement about the launch 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 are offering our customers a powerful tool to unlock the potential of their inventory and achieve their business objectives. This product aligns with our mission to support the entrepreneurial spirit, expand economic opportunities and contribute to the success of businesses across the country and beyond.”
Stock financing, also known as inventory financing, enables businesses to borrow working capital against their existing stock, thereby offering convenient and flexible financing options. This new product is tailored to cater to the specific needs of entrepreneurs, small and medium-sized enterprises (SMEs), and larger manufacturers across various sectors.
Kituuka said that Equity developed Eazzy Stock financing towards the end of the Covid-19 pandemic, to support business recovery better. He explained that with Equity’s Eazzy Stock financing, businesses can leverage their inventory as collateral to secure loans, eliminating the need for traditional collateral or personal guarantees. “This innovative approach ensures that businesses can tap into their working capital while minimizing their financial risks,” said Kituuka.
Through the new lending service, the bank aims to address the challenges faced by businesses such as cash flow management, seasonal demands and inventory optimization. By providing quick and efficient access to funds, Eazzy Stock financing empowers businesses to navigate operational expenses, invest in growth initiatives and capitalize on emerging market opportunities.
