Frequently Asked Questions

General Questions

Who is MCBL?

Mercantile Credit Bank Limited (MCBL) is a Tier II financial Institution that has for over 30 years provided a premium banking experience to Ugandans through our wide range of products and services.

Where are you located

Our offices are located on Plot 8, Old Port Bell Road, Kampala Uganda.

What products and services do you offer?

We provide lending services, financial advisory, operating and finance leases and commercial banking.

Do you have ATMs and other branches?

We only have one branch located on Plot 8, Old Port Bell Road.

Finance Leasing

What can one lease?

Brand new or used assets such as cars, buses, trucks, generators, medical equipment, manufacturing equipment, Institutional computers any other asset acceptable to MCBL.

Who Qualifies?

Established businesses or individuals who can ably meet the agreed periodic repayments.

What is the range for finance leasing?

As low as shs 5 million to currently maximum of shs 1 billion.

Who decides on the equipment?

The client (customer) identifies and it is verified by MCBL.

Client (Leasee) obligations during the lease period

Keep and maintain the equipment in good working condition MCBL will make periodic supervisory visits;
Promptly make repayments as agreed and keep in touch;
Avoid modifying the equipment without the authorization of MCBL;
Avoid sale of the equipment or any component of the equipment.

Can one lease more than one item?

Yes, depending on their capacity to meet repayments.

What is the structure of Repayment?

Can be monthly or structured according to the periodic flows of the customers funds.

Do those not yet Mercantile customers qualify for a lease facilities?

Yes, and they will be welcome to become part of the MCBL family.

Security to cover the facility

The leased asset works collateral. But client will be required to contribute between 20% to 30% of the cost of the asset. Additional security may be required.

When does the customer start Rental payments?

After a month or an agreed period and after receiving the leased equipment.

Is Early settlement allowed?

Yes, but the customer should inform MCBL of the intention.

Talk to us and let’s help

If you have any question, concern or query. Please send us a message and we will get back to you as soon as possible.

Banking Supportwhen you need it most

At Mercantile Credit Bank we understand that banking can be stressful. You are not alone. Our team of experts is always on stand by to answer your questions.