Micro-Asset/ Bodaboda Loans
We offer bodaboda loans to young men and women who do not have enough funds to pay the total amount upfront
Terms and conditions
- Upfront payment (deposit); minimum ugx 2,000,000.
- Loan period of up to 24 months.
- Interest rate of 2% per month.
- Maximum loan amount: Ugx 8,000,000 (depending on market price of motorcycles).
- Frequency of payment weekly.
- The motorcycle to be purchased becomes the collateral.
- Two guarantors required.
- Youth main target.
- Other qualified persons can be accepted.
- Financial inclusion of the youth by increasing accessibility to and affordability of loan facility .
- Reduce the rampant sale of land by youth to buy motorcycle.
- Ease of transportation of agricultural inputs and farm produce.
- Facilitate general transportation of goods and passengers.