Micro Credit Loan (Individual Loans)

Micro Credit Loan (MCC) was developed based on researched findings and conclusions from the teachers (primary, secondary, tertiary and institutions of Higher learning) in Uganda. By classification, a cross section of teachers with a collateral security or businesses in full capacity operations opt for individual loans. MCC product has these Terms of Reference (TORs) thereunto;

  1. Registered business (Trading license for at least two years)
  2. Proof of business address
  3. Audited books of accounts or any other proof business ledgers
  4. Collateral security (Land title but free of any incumbrances, building on a registered Kibanja, Machinery)
  5. Minimum of 5,000,000 and maximum of 50,000,000
  6. 1-3 years loan repay period
  7. 11% interest per annuum
  8. Introductory letter from L.C 1 and Certificate of registration