EFC Uganda rolls out the “Simbula Loans ne EFC” Campaign to provide affordable credit.
Drake Nyamugabwa
EFC Uganda Limited (MDI) - Uganda’s fastest-growing microfinance institution has rolled out a campaign dubbed “SIMBULA LOANS NE EFC.’’ The campaign is focused on enhancing the institution’s commitment to contribute to Uganda’s development and economic stability through key drivers like financial inclusion.
The country’s economic sector was heavily threatened by Covid - 19, a global pandemic. Businesses have struggled for the past 1.5 years and livelihoods have been constrained hence the urgent need for financial institutions to come up with favorable recovery solutions. Through initiatives like Simbula loans ne EFC that are designed to provide quick and affordable loans, it is unquestionable that economic recovery will be more rapid than anticipated.
The Simbula loans ne EFC Campaign offers Business loans, Home improvement loans and Women Market Trader loans is introduced at such a great time when the financial sector is gathering pace to recover.
While officially launching the Simbula loans ne EFC campaign-in picture above, Mr. Shem Kakembo, the Managing Director of EFC Uganda emphasized that “EFC Uganda is excited to provide easy access to borrowing at very affordable lending rates.’’ Adding that, “While on the journey to becoming the largest and most preferred SME financial institution in Uganda by 2025, one of EFC Uganda ‘s key areas of focus is providing awesome customer experience.”
Eligibility for loan customers; a customer or prospect must be an entrepreneur or merchant, must be of the age of majority, have at least 6 months of experience in the same business, demonstrate the capability of operating a profitable business, and must have collateral like business equipment, vehicle, house, or land.
The minimum loan amount offered is five million Uganda shillings (5,000,000UGX) with a maximum repayment period of up to sixty (60) months.
The “Simbula loans ne EFC campaign” is targeting to extend loans close to UGX 13.5 BN and will run for three months across all the EFC branches countrywide. Eligible Ugandans specifically Entrepreneurs, Homeowners, and all Women in business are encouraged to embrace the opportunity.
EFC Uganda Limited (MDI) remains committed to providing quick access to financial services for the under-served.
EFC Uganda Limited (MDI), is among the fastest-growing microfinance institutions in Uganda. Licensed and supervised by the Bank of Uganda. EFC is committed to contributing to the development of the country’s private sector by providing increased access to financial services for the underserved Micro, Small and Medium Entrepreneurs (MSMEs) market segment.
