Sseguku Microfinance, Enterprise Loan, ID: 149

Sseguku Microfinance Uganda (SMUG) is seeking an enterprise loan to finance its operations such as; paying staff salaries and office expenses for the remainder of the financial year 2020. The need has arisen due to declining earnings as a result of the Ugandan government's efforts to limit the spread of the Corona virus. This resulted to a decline in the business performance due to the negative effect of the Covid-19 pandemic that affected some of our clients, but after lifting the restrictions, gradually  businesses started recovering and we have continued giving out loans to our clients and we hope the situation will remain the same and even get much better.

Loan status
Disbursed
Percent repaid
10 %
Loan product
Enterprise Loan
Loan amount
UGX 2,500,000
Repayment period
9
Repayment interval
Monthly
Grace period
0

Create date
01/12/2020
Published date
09/12/2020
Auction end date
21/12/2020
Disbursement date
22/12/2020

Disbursement fee
0.00 %
Interest commission
0.00 %
Lender interest limit
15.00 %
Average lender interest
10.04 %
Cost for business
UGX 101,123
APR (Annual percentage rate)
10.04 %

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, individual, agriculture and SME products. The minimum repayment period for these loans is six (6) months.
Previous loans
Id Date Amount Status Link
18 31-12-2018 UGX 1,500,000 Repaid show
96 23-12-2019 UGX 2,000,000 Repaid show
Client images
Due diligence status
Passed

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