Emergency Loans

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About Quick/Emergency loan and how does it work

This loan product is designed for members who have short time financing needs. It is aimed at enabling members get affordable credit to supplement on their working capital requirements in the shortest time possible.

Key Features of business loan

  • Low interest rate that highly favors business prosperity
  • Quick loan processing i.e. 12 hours of loan processing
  • Unsecured loan up to Ugx 3 million
  • Minimum loan amount of Ugx 100,000
  • Maximum loan amount of Ugx 20 million
  • 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
  • Provide a security for loan applications exceeding Ugx 3 million
  • Loan given to members with active businesses
  • Maximum of 2 months’ repayment period.

We usually follow 4 steps to get a better Emergency 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
  • Must have proof of business ownership
  • Have a security for the application that exceeds 3 million
  • Credit Bureau check/Report

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