EFC Uganda introduces “Simbula Loans Ne EFC” campaign

Last week, EFC Uganda, a microfinance institution, rolled out a “Simbula Loans Ne EFC” campaign.

The campaign aims to enhance the institution’s commitment to contributing to Uganda’s development and economic stability through key drivers like financial inclusion.

However, the country of the economic sector is already affected and threatened because of the COVID-19 pandemic. Businesses in the country have been suffering a lot for the past 1.5 years, and livelihoods have been denied hence the urgent need for financial institutions to develop favorable recovery solutions.

According to the firm’s statement, that campaign should offer business loans, home development loans and women market trader loans.

When the managing director of EFC Uganda ‘Shem Kakembo’ was launching the campaign, he highlighted that EFC Uganda is excited to provide easy access to borrowing at very affordable lending rates.

Furthermore, he stated, “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 an awesome customer experience.”

To get the eligibility of the loan under this campaign, a customer or candidate must be an entrepreneur or merchant, must be come under age, must have at least good experience minimum of six months with the condition that is 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 for the home is Shs 5 million, with a maximum repayment period of up to sixty months.

As per the institution, the campaign aims to hit the extend loans close to Shs 13.5 billion and run for at least three months across all the EFC branches country-wide.