Pride Bank has officially launched the GROW Loan in Soroti, a new financing product aimed at increasing access to affordable credit for women entrepreneurs in the Teso sub-region.
The launch marks a significant step in the bank’s efforts to promote financial inclusion and support grassroots economic development across Uganda.
The Generating Growth Opportunities and Productivity for Women Enterprises (GROW) Project is a Government of Uganda Project, funded by the World Bank aimed at increasing access to entrepreneurial services that enable female Entrepreneurs to grow their Enterprises from micro to small and small to medium
The GROW Loan is designed to provide flexible and accessible financing solutions that enable businesses to expand operations, improve productivity, and create employment opportunities.
Speaking during the launch, Pride Bank Managing Director Veronica Namagembe said the institution remains committed to transforming livelihoods through accessible financial services tailored to community needs.
“The launch of the GROW Loan in Soroti reflects our commitment to bringing financial services closer to the people. We are not just financing businesses; we are investing in dreams, families, and the future of this region,” Namagembe said.
She noted that many entrepreneurs continue to face challenges such as limited access to affordable credit, high collateral requirements, and financial products that do not address the realities of growing businesses.
According to Namagembe, the GROW Loan seeks to bridge this gap by providing a more flexible and responsive financing facility that supports working capital, business expansion, equipment acquisition, and enterprise growth.
Board representative Joshua Atwine described the launch as a major milestone for the institution and emphasized the bank’s commitment to inclusive economic empowerment.
“We recognize that access to affordable and reliable financing remains one of the biggest barriers facing entrepreneurs and small business owners today. The GROW Loan is intended to bridge that financing gap and support businesses to grow sustainably,” Atwine said.
He added that the bank is particularly focused on supporting women and youth entrepreneurs, who often face the greatest barriers in accessing formal credit despite their critical role in driving innovation and employment creation.
Atwine also highlighted the economic potential of the Teso sub-region, noting that Soroti has demonstrated strong entrepreneurial activity in agriculture, trade, transport, services, and agro-processing.
Pride Bank officials said the GROW Loan forms part of the institution’s broader strategy to strengthen its national presence while promoting sustainable and inclusive economic growth.
The bank further encouraged beneficiaries to practice responsible borrowing and invest the funds in productive, income-generating activities that can improve long-term financial stability.
