FINCA Uganda
15-30% p.a.
Flat rate
Up to 300M
UGX
Up to 36 months
Flexible terms
3-7 days
After documentation
FINCA Uganda's Enterprise Loan is designed for small and medium enterprises (SMEs) looking to expand their business operations, purchase inventory, or invest in equipment and assets. This loan product comes with credit-life insurance included, providing additional security for business owners.
With flexible collateral options and loan amounts of up to UGX 300 million, the Enterprise Loan caters to businesses at various stages of growth. The loan features a flat interest rate structure, typically ranging from 15% to 30% per annum, depending on the business profile, loan amount, and tenure.
FINCA Uganda is a leading microfinance institution in Uganda, operating since 1992 and serving over 120,000 clients through its network of branches across the country. As part of FINCA Impact Finance, it focuses on providing financial solutions that positively impact communities and foster economic development.
Use our calculator to estimate your monthly repayments for a FINCA Enterprise Loan. Adjust the loan amount, interest rate, and tenure to see how they affect your repayment schedule.
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This calculator provides estimates only. Actual loan terms may vary based on credit history, additional fees, and lender policies.
FINCA uses a flat interest rate calculation method, which means interest is calculated on the full loan amount throughout the loan term, not on the declining balance. This results in a higher effective interest rate than the stated rate.
While credit-life insurance provides valuable protection, it adds approximately 0.6% per month to your loan cost. Factor this into your total cost calculations.
Be aware that collateral can be seized if you default on loan repayments. Ensure your business cash flow can reliably support the repayment schedule.
Visit your nearest FINCA Uganda branch to speak with a loan officer about your business needs and start the application process.
Plot 11, Acacia Avenue, Kololo, Kampala
Tel: +256 414 231134
Plot 71, Main Street, Jinja
Plot 26, Cathedral Avenue, Mbale
Plot 10, High Street, Mbarara
FINCA Uganda offers Enterprise Loans of up to UGX 300 million. However, the actual amount you qualify for depends on your business size, cash flow, collateral value, credit history, and repayment capacity. First-time borrowers typically start with smaller amounts, with the potential to access larger loans after establishing a good repayment history.
The application process typically takes 3-7 business days from submission of all required documentation to loan approval. Smaller loans may be processed faster, while larger amounts may require additional verification steps. Once approved, disbursement usually occurs within 24-48 hours.
FINCA accepts various forms of collateral including land titles, vehicle logbooks, business equipment, and household items of value. For smaller loans, guarantors may be accepted in place of physical collateral. The collateral value typically needs to cover at least 120-150% of the loan amount, depending on the type of asset.
Yes, FINCA allows early loan repayment. However, since they use a flat interest rate calculation method, you may not benefit from significant interest savings with early repayment. There may also be an early repayment fee, typically around 2-5% of the outstanding principal. Discuss the specific terms with your loan officer before making an early repayment.
"I've been with FINCA for 3 years now and have taken two Enterprise Loans to expand my clothing shop. The business advisory services were particularly helpful in improving my inventory management. The interest rate is higher than bank loans, but the quick processing and flexible collateral options made it worth it for me."
"FINCA's Enterprise Loan helped me expand my hardware business, but I was surprised by the total cost when including all fees and insurance. The loan officers were transparent, but I wish I had calculated the effective interest rate better. Still, the loan enabled me to increase my stock and sales have grown by 40%."
"What impressed me most was how FINCA's loan officers took time to understand my restaurant business before recommending a loan structure. The weekly repayment option aligned perfectly with my cash flow. I've since renovated my restaurant and added catering services, increasing my monthly revenue significantly."
These reviews represent actual customer experiences but individual results may vary. Your experience will depend on your specific business circumstances and loan terms.