| Interest Rate | 30% |
| Duration | From 14 Days |
| Access Level | Public |
| Company Name | Wazalendo SACCO |
| Phone 1 | +256 414 668 650 |
| Phone 2 | +256 393 206 306 |
| Website or Store | |
| Address | |
| Category | Mild Loan |
| Company Email | info@wazalendo.co.ug |
| Views | 84 |
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About Cash Flow
A Cash Flow Loan by Wazalendo SACCO is a flexible financing solution designed to support businesses by leveraging their daily revenue streams for repayments. Unlike traditional loans that rely solely on collateral, this loan product allows members to access funds based on their business cash flow, making it an ideal choice for entrepreneurs and small business owners in Uganda.
Key Features of Wazalendo SACCO’s Cash Flow Loan
Wazalendo SACCO offers competitive terms to ensure affordability and convenience for its members. Here are the key features:
Low Application Fee: Only UGX 10,000 to process your loan request.
Affordable Loan Commission: Just 2% of the loan amount.
Transparent Fees: Includes a 1% loan appraisal & management fee.
Loan Protection: A 2.5% fee safeguards your funds.
Competitive Interest Rate: 15% per annum, making repayments manageable.
Flexible Repayment Period: Up to 60 months (5 years) for long-term business growth.
Collateral Requirement: Security cover (physical assets or certificates of deposit) must be at least 50% of the loan value.
Late Payment Penalty: A 3% charge on the defaulted amount encourages timely repayments.
Why Choose Wazalendo SACCO’s Cash Flow Loan?
✅ Quick & Easy Access: Minimal paperwork and fast approval.
✅ Business Growth Support: Helps businesses expand without straining cash reserves.
✅ Member-Focused: Designed for UPDF and MODVA members, ensuring trust and reliability.
✅ Transparent Pricing: No hidden charges—all fees are clearly stated upfront.
Latest News & Updates from Wazalendo SACCO
Stay informed with the latest developments:
Malawi’s United Civil Servants’ SACCO Benchmarks with Wazalendo SACCO (3 weeks ago)
Wazalendo SACCO Posts Impressive Growth Figures (3 weeks ago)
Wazalendo SACCO Supports Mothers in Kyankwanzi District (3 weeks ago)
📢 Follow us on Twitter for real-time updates: @wazalendo05_ug
About Wazalendo SACCO
Wazalendo SACCO (WSACCO) is a leading cooperative society under Uganda’s Ministry of Defence and Veteran Affairs (MODVA) and the Uganda People’s Defence Forces (UPDF). It empowers members through savings and affordable credit solutions to enhance their financial well-being.
Expert Counsel
Loan Agreements in Uganda: Understanding Your Rights
Under Ugandan law, loan agreements can be deemed invalid or unenforceable in certain situations. These include:
- Unlicensed Money Lenders: Operating without a valid license from the Bank of Uganda can make contracts unenforceable under the Financial Institutions Act.
- Excessive Interest Rates or Hidden Fees: Contracts with unconscionable terms may be unenforceable under consumer protection laws, as regulated by the Uganda Microfinance Regulatory Authority (UMRA) for Tier 4 microfinance institutions.
- Fraud, Misrepresentation, or Coercion: Contracts obtained through deception, misleading statements, or threats can be voidable under the Contracts Act.
- Breach of Privacy & Harassment: Loan apps that invade borrowers' privacy or engage in harassment may have contracts that can be challenged as invalid under the Data Protection and Privacy Act.
- Lack of Written Agreement: While not strictly defined for all loan amounts, having a written contract is advisable for clarity and enforceability.
- Violation of Loan Tenure & Repayment Rules: Contracts that violate guidelines set by the Bank of Uganda or relevant regulatory bodies may be challenged.
- Duress or Undue Influence: Contracts signed under threats, blackmail, or undue influence are invalid under Ugandan Contract Law.
- Lending to Minors: Loan contracts with individuals under 18 years old may be void or voidable, depending on the circumstances, under the Contracts Act and the Children's Act.
Understanding these points can help borrowers navigate loan agreements and protect their rights in Uganda. Borrowers are advised to seek legal counsel or financial advice when entering into loan agreements.
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