New loan product launched to support SMEs access working capital
The product is tailored to Uganda’s small business sector, delivering loan amounts between sh250,000 and sh5,000,000 with no paperwork, no collateral, and instant disbursement.
Isaac Bigirwa, Head of Cards and Payments at dfcu Bank. (Courtesy)
By Simon Okitela
Journalists @New Vision
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In a bid to support small businesses access working capital and expand, dfcu Bank recently launched the SME Mobi Loan, a digital-first, unsecured lending solution designed to provide SMEs with immediate access to capital.
The product is tailored to Uganda’s small business sector, delivering loan amounts between sh250,000 and sh5,000,000 with no paperwork, no collateral, and instant disbursement.
Our reporter, Simon Okitela, spoke to Isaac Bigirwa, Head of Cards and Payments at dfcu Bank, on the impact they envisage creating among businesses looking for funding.
- Speak to us about this new product and what makes it stand out.
The dfcu SME Mobi Loan is a digital, short-term, unsecured loan designed to empower small and medium businesses with quick access to funding, within minutes.
What makes it truly unique is how easy it is to access: there’s no paperwork, no collateral, and it’s entirely available through our Quick Banking channels.
- Why was this product a priority for the bank this year?
Uganda’s SME sector is vibrant but often constrained by a lack of quick and affordable financing. Many SMEs fall outside the reach of traditional banking processes, which tend to be slower and more documentation-heavy. The product was developed to bridge this gap, making finance accessible, flexible, and mobile-first. This fits perfectly within our digital transformation agenda.
- What benefits does the product offer to entrepreneurs on the ground?
It offers speed and convenience, access to funds in real time. Second, there’s no paperwork or branch visits, which is critical for busy business owners. It also offers loan amounts ranging from Sh250,000 to Sh5 million, which covers a wide range of SME needs, from replenishing stock to covering short-term cash flow gaps.
- How does this initiative tie into dfcu’s broader strategy?
Our strategy is rooted in financial inclusion, digital innovation, and supporting business growth. The SME Mobi Loan helps new and existing SME customers build their credit profiles. Over time, we aim to help them transition to larger, secured lending products. It’s a key part of our mission to go further together with our customers.
- Is there a plan to introduce a similar solution for individual (non-SME) customers?
Yes; dfcu’s Mobi Loan for individual customers has been in place for a while and is actively serving our personal banking segment. Just like the SME Mobi Loan, it’s fully digital, unsecured, and disbursed in real time through our Quick Banking channels.
It’s designed to help individuals manage short-term financial needs quickly and conveniently, from emergency expenses to daily cash flow gaps.
- What would you say to SMEs slow to embracing digital credit solutions?
I’d say: give it a try. The world is moving forward, and dfcu is building tools that are safe, secure, and designed around your needs. The dfcu SME Mobi Loan is more than just a loan, it’s a fast, convenient solution designed to meet urgent business needs, giving entrepreneurs instant access to cash when they need it most, without hassle.