In Uganda’s fast-moving economy, access to affordable credit remains a major challenge, especially for individuals and SMEs operating in the informal sector. dfcu Bank is addressing this gap through the dfcu Mobi Loan, a digital, collateral-free loan product designed to offer instant access to funds.
Currently running under the #SumululaBusiness campaign, MobiLoan is helping redefine what access to credit looks like in real time. We spoke with William Kayongo, dfcu’s Head of Enterprise Banking, to learn how the product is creating real impact.
What is MobiLoan, and what does #SumululaLife mean for customers?
The dfcu SME Mobi Loan is an instant, unsecured loan accessed via *240# or the dfcu Quick App. It provides up to Shs5 million for SMEs, with a 30-day repayment period, no collateral, no paperwork.
#SumululaBusiness is our call to action. “Sumulula” means to release and that’s what we are doing: freeing customers from credit bottlenecks so they can take control of urgent needs such as purchase of business stock and meeting operational costs.
What makes dfcu’s SME Mobi Loan different from other digital loans?
Several things:
- Separate limits for individuals and SMEs based on real financial needs.
- It allows one to access money more than once.
- No collateral – we assess eligibility through transaction history and account behaviour.
- Available to both smartphone and feature phone users.
- It’s built for inclusion, but with responsibility at its core.
Who qualifies?
Existing dfcu customers with at least six months of active account use. We assess regular inflows, responsible usage, and especially for SMEs, business turnover and transaction patterns.
Why cap loans at Shs5M?
These are practical limits. For SMEs, UGX 5M is ideal for short-term stock, operations, or working capital. It’s targeted and manageable.
What role does #SumululaBusiness play in shaping borrower behavior?
It reframes credit. We’re saying: this is a tool to financial freedom for business owners. Through this product, dfcu is shifting mindsets to empowerment and confidence.
What support do customers get after taking a loan?
We offer a full suite: in-app help, USSD services, live agent support, and reminders. Customers who repay on time can qualify for higher limits in future. We want to grow with them.
And the bigger picture—how does this support national inclusion goals?
MobiLoan removes traditional barriers: no collateral, no delay, no friction. It brings women, youth, and informal traders into the financial mainstream. With Uganda targeting 90% financial inclusion by 2030, tools like this are essential.
Final word?
Credit should work for you – with the dfcu SME Mobi Loan, we are making sure it does.
*To apply: Dial 240# or use the dfcu QuickApp.
