Countries / Uganda
Loan management software in Uganda
For money lenders and microfinance companies in Uganda: borrowers checked by NIN, phone numbers in +256 form, money in Ugandan Shilling (USh) and reports you can hand to the Uganda Microfinance Regulatory Authority, on a phone or a computer.
- Money
- Ugandan Shilling (USh)
- Phone numbers
- +256, like 0772 123 456
- Borrower ID
- NIN, like CM12345678ABCD
- District
- On every borrower's address
- Plans
- From $39 a month, in US dollars
How borrowers repay
MTN MoMo and Airtel Money, bank transfer, and cash at the office. Each payment is recorded against the right instalment, with a receipt, whichever way it came in.
Who licenses lenders
Money lenders are licensed by UMRA, the Uganda Microfinance Regulatory Authority, under the Tier 4 Microfinance Institutions and Money Lenders Act, 2016. Spindle Loans keeps the loan register, signed agreements, key facts and a complaints log, ready to show when you are asked.
A typical loan
Business loan, repaid weekly by mobile money: USh750,000 over 8 months at 10% a month, flat, is 8 instalments of USh168,750, USh600,000 interest in total. This rate is only an example: you set your own rates, fees and penalties on each loan product.
Reminders and receipts can go out by text through a provider in your country, which we connect for you. You pay for Spindle Loans in US dollars by bank transfer; your system opens the day the money arrives.
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