VSLA Loans (Village Savings & Loan Association (VSLA) Loans)
Community Group Loans
This product is designed to finance rural and urban associations.
Features & Benefits
- Tailored loan amounts dependant on the requirements
- Repayment period of up to 5 years
- Loan instalments tailored to income inflow
- Competitive interest rates
- Enables schools to manage cash flow challenges
- Phased financing available
- Loan Purpose: On lending to VSLA members
- Loan Amount: UGX 1,000,000-UGX 20,000,000
- Loan Duration: up to 9 Months
- Repayment frequency: monthly
- Loan processing fee is UGX50,000
- CRB Search fees of UGX15,000 per executive memeber.
- Stamp Duty UGX10,000 upfront.
- Interest rate calculation method-Flat
- Must have an active account with Opportunity Bank Uganda
- The assocition must have been in existence for at least 3 years
- Must provide collateral
- Audited financial statements for the last 3 years
- Memorandum and articles of Association, partnership deed or sole proprietorship must be provided
- Resolution to borrow by the Board of Governors or Board of Directors
- LSF of 20% of loan amount.