ACB bank cuts loan processing time to just one week, not three

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Dar es Salaam. Has your medium-sized business experienced steady growth with Akiba Commercial Bank (ACB)? If your answer is yes, then the lender has good news for you.

You now only need a week instead of four to access a loan to grow your business. This arrangement targets loan amounts of between 20 and 220 million shillings.

The lender has set aside staff to effectively ensure this happens.

ACB Bank’s marketing and communications manager, Dora Saria, said the creation of a special window for medium-sized businesses responds to increased demand for shorter loan processing times.

Speaking to clients of the bank yesterday in Dar es Salaam, Ms Saria said the service would start first at the lender’s Kariakoo and Ubungo branches.

“Established SME Centers provide specialized, affordable and reliable services to our clients, as we recognize SMEs as the engine of economic growth,” she observed.

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Bertha Simon, Acting Managing Director of ACB Bank, since the bank’s inception for two decades, provides quality financial solutions services.

“We plan to expand this service to all our branch networks based on the success of the pilot program in two branches,” said the bank’s regional portfolio manager, Mr. Aloys Yamala.

He said that the introduction of the services was a result of increased demand from customers as they decided to offer specialist services in a more personalized way.

Mr Yamala said that this specialized treatment for average clients also makes it easy for them to negotiate with the bank the terms and conditions of the loans, including the repayment period.

“This service has not only reduced loan processing times, but also offers an opportunity for a client to negotiate,” he said on the sidelines of the meeting.


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