The flagship product offered by CAFECC, our loans help small businesses flourish with easy access to capital,
along with value-added financial and business training. All loans issued now have a compulsory savings program,
helping clients form good financial habits. While we traditionally offered group and individual loans in the past
(representing 60% and 40% of our client base, respectively), CAFECC now offers loans exclusively for individuals within groups.
- Loan term of 3 months to 2 years depending on the loan size and client’s capacity to pay
- Bi-weekly payment for loans ranging from 50,000 to 450,000 UGX and monthly payment for loans from 500,000 UGX and above.
- 20% of loan amount as compulsory savings deposit
- Registration fee of 10,000 UGX (inclusive of membership fee, passbook fee and application form fee)- this is once and for all in a client’s life time with CAFECC.
- Service fee of 4% for first time clients, 2% for repeat clients and 0% for clients who timely pay all installments directly to CAFECC office.
- Interest rate of 4% flat rate. The rate decreases with time i.e. 3.5% for 5 plus loans, 3% for 10 plus loans and 2.5% for 15 plus loans, and so on.
Voluntary Savings
In order to continue making Christ central in our client relationships, once a month we assemble in a CAFECC staff-client fellowship, which includes guest teaching, worship, prayer, testimonies, and dancing. CAFECC brings its entire community together and invites the Holy Spirit to knit us closer in Jesus Christ: – clients and staff share prayer requests, praises to God, and life troubles. We look for every opportunity to bond with our clients in a reciprocal effort to seek God together.
- No minimum balance
- No transaction fees
- No withdrawal limit
- No account maintenance fees
- Nominal account opening fee
Clients are encouraged to pay at least 1500 UGX or 0.64 USD per payment period to improve on their savings culture.
