The Uganda commercial banks have decried customers’ multiple acquisition of loans from different banks.

The Finca Uganda Executive Director, Julius Omoding says that  unfaithful multiple borrowers have caused a lot of loses to the banks as loan agents start searching them and asks borrowers to avoid taking loans before they settle the previous ones.

Omoding says that multiple borrowing puts the borrower in a volatile situation when demands are pulling from different bank loan agents.

Omoding adds that it tarnishes ones’ credit worthiness when banks learn that you are a multiple borrower who doe not service the loans properly.

By Issa Asuman