Asset Acquisition Loans

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About Asset Acquisition Loan and how does it work

This loan product is targeting members who want to acquire assets especially business assets. It is also designed to serve those members who want to acquire properties like land, houses, cars etc. You mention the asset, we buy it for you and we arrange for a good payment plan.

Key Features of Asset Acquisition loan

  • Low interest rate
  • Quick loan processing i.e. 48 hours of loan processing
  • Maximum loan amount of Ugx100million
  • Flexible loan repayment plans
  • No hidden loan fees
  • Loan applications are available to only members with active accounts with SACCO.
  • Need to be guaranteed by at least 2 guarantors to secure this loan
  • Loan given to members with active businesses
  • This loan product mostly favors members with fully paid up shares in the Sacco
  • Provide a security for loan applications exceeding Ugx 3 million

We usually follow 4 steps to get a better business loans.

1

Apply for any of our loan products

Online Loan Application Form is available on our website and Mobile Phone Application. You can also access a physical loan application on our office or through our field staff whenever seen.

2

Appraisal

The credit officer makes a physical visit to the applicant’s business premises to establish the existence and performance of business that shall generate income to pay back the loan.

3

Credit Committee

After an appraisal, the credit committee sits and analyses the application whether it conforms to the requirements as stated in the Credit Policy.

4

Disbursement/Decline

After successful appraisal and positive response from the Credit Committee, money is credited on the applicant’s account from which he/she withdraws. A communication is made to the client giving the details of disbursement or decline of application.

Eligibility Criteria

  • Must have an active account with SACCO
  • Have at least 2 guarantors
  • Must have active business that shall guarantee loan repayment
  • Must have proof of business ownership
  • Must have saved 20% of the loan amount applied for in case of unsecured loans
  • Have a security for the application that exceeds 3million
  • Credit Bureau check/Report
  • Must reveal the details of the asset to be financed

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