OUR LOAN PRODUCTS
AGRICULTURE LOAN
-Loan for members dealing in Agricultural production
-Loan amount ranges from 50,000 UGX to 30,000,000 UGX
-Grace Period of 1-6 Months
-Loan term ranges from 1-12 Months
-Interest of 2% per Month on reducing balance method
-Based on Shares
BULL FATTENING LOAN
-Loan for members dealing in bull fattening business
-Loan amount ranges from 50,000 UGX to 20M UGX
-Grace Period of 1-6 Months
-Loan term ranges from 1-12 Months
-Interest rate of 2% per month on reducing balance method
-Based on Shares
BUSINESS LOAN
-Loan for members dealing in small scale and medium business enterprises
-Loan amount ranges from 50,000 UGX to 100M UGX
-Grace Period of 0 Months
-Loan term ranges from 1-24 Months
-Interest rate of 24% p.a on reducing balance method
-Based on Shares
SCHOOL FEES LOAN
-Loan for parents/guardians who need funds to pay for their childrens’ school fees
-Loan amount ranges from 50,000 UGX to 5M UGX
-Grace Period of 0 Months
-Loan term ranges from 3-6 Months
-Interest rate of 24% p.a on reducing balance method
-Based on Shares
SPECIAL EMERGENCY LOAN
-Loan to for members who need cash urgently
-Loan amount ranges from 50,000 UGX to 10M UGX
-Loan term ranges from 1-4 Months
-Interest rate of 4% per month on reducing balance method
-Original card for comprehensively insured car or land title is accepted as security
-Based on Shares
INSTITUTIONAL LOAN
-Loan for established schools, churches and mosques
-Loan amount goes up to 50,000,000M Ugandan Shillings
-Grace Period of 0 Months
-Loan term up to 36 months
-Interest rate of 2% per month on reducing balance method
-Schools pay Termly and security is Land Title
ASSET ACQUISITION LOAN
Loan for members intending to buy assets and household items
-Loan amount ranges from 3M UGX to 100M UGX
-Loan term ranges from 1-36 Months
-Interest rate of 24% p.a on reducing balance method
-Grace period of 0 Months
-Based on Shares
KYAAPA LOAN
Loan for members with untitled land looking for to process land titles.
-Loan amount ranges from 500,000 UGX to 5M UGX
-Loan term ranges from 1-12 Months
-Interest rate of 24% p.a on reducing balance method
-Grace period of 0 Months
-Based on Shares
INVENTORY(MUSHARURO)LOAN
The market forces of supply and demand of agricultural produce usually do not favour farmers. Prices are low in the harvest season and in most cases, this is usually aggravated by middle men who take advantage of the situations by buying cheaply from farmers and restock and reap big after the harvest season. The SACCO through its social performance principles is committed to protecting its members through payment of reasonably prices for the harvest, restock and re-sale, share the proceeds.
-Loan amount ranges from 50,000 UGX to 30M UGX
-Loan period up to 4 Months
-Interest rate of 2% per month on reducing balance method.
-Grace period of 0 Months
-Based on Shares
WASH LOAN
-Loan to construct pit latrines, toilets, septic tanks, kitchens and purchase water tanks
-Loan amount ranges from 50,000 UGX to 10M UGX
-Loan term ranges from 1-18 Months
-Interest rate of 21.6% p.a on reducing balance method
-Physical delivery of water tanks
-Based on Shares
HUMURA LOAN
-Loan for helping members in burial in case a member loses a dear one
-Loan amount ranges from 50,000 UGX to 1M UGX
-Grace Period of 0 Months
-Loan term of 1 Month
-Interest free
-Based on Shares
SOLAR LOAN
-Loan for members intending to install a home/irrigation solar power system
-Loan amount ranges from 50,000 UGX to 10M UGX
-Grace Period of 0 Months
-Loan term ranges from 3-6 Months
-Interest rate of 24% p.a on reducing balance method
-Based on Shares
BODA BODA LOAN
-Loan for members who need funds to start Boda Boda riding Business
-Loan amount ranges from 50,000 UGX to 6M UGX
-Grace Period of 0 Months
-Loan term ranges from 1-12 Mont
-Interest rate of 24% p.a on reducing balance method
-Based on Shares
MEDICAL LOAN
-Loan to ensure good health among the members
-Loan amount ranges from 50,000 UGX to 1000,000 UGX
-Loan term ranges from 1-3 Months
-Interest rate of 1.5% per month on reducing balance method
-Grace period of 0 Months
-Based on Shares
HOUSING LOAN
-Loan for members who intend to construct homesteads
-Loan amount ranges from 2M UGX to 50M UGX
-Loan term ranges from 1-36 Months
-Interest rate of 1.5% p.a on reducing balance method
-Materials must be on site
-Based on Shares
HOME IMPROVEMENT LOAN
-Loan for members intending to acquire household items
-Loan amount ranges from 50,000 UGX to 20M UGX
-Loan term ranges from 1-12 Months
-Interest rate of 24% p.a reducing balance method
-Grace period of 0 Months
-Based on Shares
ENVIRONMENTAL LOAN
-Members involved in activities that preserve the environment
-Loan amount ranges from 100,000 UGX to 10M UGX
-Loan term ranges from 1-24 Months
-Interest rate of 24% p.a on reducing balance method
-Grace period of 0 Months
-Based on Shares
LOAN ELIGIBILITY
-The borrower must be a member
-Must have run the account for atleast a month and saving regulary
-Must have a sound mind aged between 18 and 69 years
-He/She must be a credit worthy member
-Must present two guarantors who are Lyamujungu SACCO members
-Must present collateral
-Must submit a hand written application letter specifying loan amount, purpose, proposed guarantors and collateral details(with sketch map). You will also be required to fill and submit application form certified by Chairperson LC1 upon acceptance.
LOAN CHARGES
-2% Loan processing fees and Insurance
-Stationary Fee of 5,000 UGX for loans below shs 3000,000 and shs 10,000 for loans above shs 3000,000.
-Fuel refund decided according to the distance from office to the location of security.
Note: Every loan applicant for loan amount from shs 3000,000 is supposed to fill a Borrower consent form obtainable from the loans officer. This will allaow management to proceed with the process of Credit Reference Bureau (CRB) search.
Lyamujungu SACCO offers loans from shs 50,000 to shs 100,000,000 and all loans are insured. In case of death of a member, the insurance company covers the balance.