By Hassan Osman Kargbo
United Bank for Africa (UBA), one of the country’s leading financial institutions, has introduced a new financial product aimed at empowering small and medium-sized enterprises (SMEs) in the construction sector.
The newly launched UBA SME Loans are designed to help contractors, builders, and suppliers scale their businesses through accessible and timely financing.
Branded under the theme “Build Bigger. Build Smarter,” the UBA SME Loans offer a fast, simple, and hassle-free application process, targeting a sector that has long faced barriers to affordable and flexible funding.
The bank says the facility will be particularly beneficial for construction-related businesses that often struggle to secure the working capital needed to execute and expand projects. Whether it’s funding for materials, labour, or operational costs, UBA’s SME Loans aim to fill the financing gap and support long-term growth.
“This is more than just a loan; it’s about investing in the backbone of Sierra Leone’s infrastructure development,” said a senior UBA official during the product launch. “Construction is a vital sector that drives job creation, stimulates local economies, and improves national infrastructure. By supporting SMEs within this space, we are enabling sustainable development from the ground up.”
The initiative is also part of UBA’s broader strategy to strengthen its support for local entrepreneurs and to fuel economic diversification. As Sierra Leone continues to focus on post-pandemic recovery and infrastructure expansion, affordable access to finance remains a critical need for business operators.
UBA emphasized that the loan application process has been tailored to the realities of local business owners. The simplified procedure ensures that businesses spend less time on paperwork and more time executing projects. Loan approvals are expected to be processed quickly, with flexible repayment plans that accommodate the unique cycles of construction projects.
In addition to financing, beneficiaries of the UBA SME Loan program will also have access to financial advisory support, helping them manage resources more efficiently and make smarter investment decisions.
Contractors and suppliers across the country have welcomed the initiative, describing it as a timely and practical solution to one of the industry’s biggest challenges. “Access to capital has always been a bottleneck,” said a Freetown-based contractor. “This move by UBA is a game-changer for small construction firms like ours.”
With this new loan product, UBA reinforces its commitment to empowering entrepreneurs and supporting national development through innovative financial solutions tailored to local needs.
