In need of money urgently for your personal or business needs ?

Do you have any form of Collateral to act as a security ?

If the answer is yes to both questions ,follow the procedure below and join Finablr network for quick and reliable credit from a variety of ethical, registered and professional lenders.

Finablr service is a product of Enabling Finance Ltd; a credit finance company in Uganda regulated by the Uganda Microfinance Regulatory Authority. (UMRA)

Products:
-Finablr Secured:
A physical collateral based loan that allows users to access up to 60% the value of their declared collateral as at time of registration. Users can always add collateral to their accounts to access more cash.

-Finablr for Salary:
A loan product targeting salary earners. Upon partnership between EFL and an employer, employees have instant access to up to 60% of their net earnings at the push of a few buttons on the app.

-Finablr for Executive guarantee:
A pioneer product of EFL that allows members instant access to unsecured loans based on their internal credit rating and directly approved and disbursed by EFL.

Prodct details:
Finablr Secured:
-Loan amount: Ugx. 100,000-50,000,000
-Loan term: Ugx. 75 days-12 months.
-APR (Annual interest rate): 12%-36% As negotiated in-app between borrower and lender:
e.g. If;
-Loan principle= Ugx. 1,000,000
-APR=20% p.a. for 3 months
-Interest will be =1,000,000*(20%/365)*(3months*30 days)= 50,000
-Security requirement: Physical asset (vehicle, real estate, Electronics, Equipment), guarantor may be required.

-Cost of finance:
Collateral assessment/verification fees: Ugx. 20,000-600,000 dependent on collateral used
Interest: As agreed with registered lender.
EFL Service fee: 1-6.5% of approved sum (includes collateral safeguarding costs)
For lenders:
10-20% of interest payable by borrower (upon payment). Dependent on lender profile.


Finablr for Salary:
-Loan amount: Min. 20,000. Max. 3,000,000 (dependent on net salary and partnership terms with employer)
-Loan term: Ugx. 90 days-180 days.
-APR (Annual interest rate): 12%-36% As negotiated in-app between borrower and lender:
e.g. If;
-Loan principle= Ugx. 500,000
-APR=15% p.a. for 2 months
-Interest will be =500,000*(15%/365)*(2 months*60 days)= 24,658
-Security requirement: Salary contract

-Cost of finance:
Application fees: Ugx. 10,000 per employee
EFL Service fee: 3% of principle requested


Executive guarantee:
-Loan amount: Min. 10,000. Max. 1,000,000 (dependent on in-app credit rating; performance rating and client rating)
-Loan term: Ugx. 75 days-90 days.
-APR (Annual interest rate): 15%-40%
e.g. If;
-Loan principle= Ugx. 100,000
-APR=15% p.a. for 1 months
-Interest will be =100,000*(15%/365)*(1 months*30 days)= 1,233
-Security requirement: Credit rating 75%+

.Cost of finance:
Application fees: N/A
EFL Service fee: 5% of principle requested

NB: Early repayment allowed across all products.

Eligibility
Users must be 18 years and above.
Eligible borrowers include:
- Students
- Salary earners
- Professionals
- Businessmen/women
- Entrepreneurs

Eligible lenders include: (Membership by application or invitation)
-Private investors
- Money lenders
- SACCOs, Investment clubs, Associations