Sseguku Microfinance, Enterprise Loan, ID: 96

Sseguku Microfinance Uganda (SMUG) needs additional funds to meet its obligations (salaries, audits, office rent, etc.) for the remainder of this financial year and is therefore approaching the lenders to secure funds for its operations. The need for additional funds has arisen as a result of increased staff costs as the company has started paying employees' income tax directly to the authorities. In addition, it has been necessary to replace the company's auditor, which also has caused additional expenses.  

Loan status
Disbursed
Percent repaid
34 %
Loan product
Enterprise Loan
Loan amount
UGX 2,000,000
Repayment period
9
Repayment interval
Monthly
Grace period
1

Create date
10/10/2019
Published date
03/12/2019
Auction end date
23/12/2019
Disbursement date
23/12/2019

Disbursement fee
0.00 %
Interest commission
0.00 %
Lender interest limit
12.00 %
Average lender interest
7.70 %
Cost for business
UGX 75,328
APR (Annual percentage rate)
7.70 %

Client name
Sseguku Microfinance
Client description
Sseguku Microfinance Uganda is a tier IV registered company in Uganda based on peer – peer lending model and it raises funds through a Dutch auction. We lend money to low income entrepreneurs under group loan financing. Recently we disbursed loans for the first cycle and expect to recover the loan portfolio within a period of 6 months. All our information is stored in the cloud including operating software for ease of access and safety.
Previous loans
Id Date Amount Status Link
18 31-12-2018 UGX 1,500,000 Repaid show
Client images
Due diligence status
Passed

Back to List