Motocycle Loan
In many areas, especially rural settings, transport remains a major challenge. This loan targets Boda-Boda and Tricycle (Tuku-Tuku) riders to help them acquire reliable and fast means of transport. Once a member fulfills the loan conditions, the SACCO facilitates the purchase of the vehicle, easing travel, improving access to services, and boosting livelihoods.
Requirements
- Loan amount ranges from UGX 1,000,000 to UGX 6,000,000.
- Loan is repayable monthly over a maximum period of 24 months.
- Client contributes the lesser of 30% of the asset cost or UGX 1,000,000.
- Member must own at least 10 SACCO shares.
- The acquired vehicle acts as loan security; additional security is optional.
- Comprehensive insurance is mandatory if the asset is the only security provided.
