Loan Application Requirements

SACCOS, and MFIs

  1. Certified copy of Certificate of Registration or Incorporation
  2. Certified copy of the Memorandum and Articles of Association, By-laws, Trusted Deeds, etc
  3. Certified copy of annual returns filed to the registering authority/body e.g. Registrar of Cooperatives for SACCOs
  4. Audited accounts for atleast 1 year by a certified auditing firm
  5. Resolution to borrow
  6. Valid operating license
  7. Minimum of one year in Operations
  8. Clearly defined and accessible location of Operation
  9. Clear ownership & governance structure
  10. Atleast two staff with basic knowledge and skills in accounting and microfinance operations or related field
  11. Collateral security fully covering the loan and interests
  12. Bank statements
  13. Business plan

Groups/VSLAs

  1. Certified copy of Certificate of Registration from the Community Development department at the District
  2.  Certified copy of the Constitution or Bylaws
  3. Resolution to borrow from MSC as stipulated in the group minutes
  4. Contacts of the executives committee plus a photocopy of their IDs
  5. Recommendation letter from from the area LC1 Chairperson
  6. Recommendation letter from the NGO/CDO
  7. Cleary defined meeting place
  8. Vasic records

NOTE:

  1. Additional documentation maybe required during the application process on a case by case basis
  2. The maximum loan amount a client can access is UGX: 3Billion while the mimum is UGX: 5million 

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