In a dynamic financial landscape, Ukulima Savings and Credit Cooperative Society has taken a significant stride by introducing a range of innovative loan products aimed at bolstering lending to Micro, Small, and Medium Enterprises (MSMEs). These newly approved products are tailored to meet the specific needs of different market segments, emphasizing targeted support for growth and development.
The real estate segment, encompassing both residential and commercial properties, has always been a vital part of lending activities. To cater to this sector’s diverse requirements, the Sacco has introduced the Investment Mortgage Loan, providing members with the means to purchase or construct real estate properties.
This mortgage loan offers flexibility by being applicable to developed properties as well as unconstructed plots. This new loan option targets customers seeking mortgages outside the conventional norms and limitations. The loan features a maximum amount of Ksh 15,000,000, and a loan tenor of 10 years.
Ukulima SACCO understands the importance of easy access to essential consumer goods. The Mali Mali Loan offers members the opportunity to acquire a range of products including water tanks, motorbikes, solar panels, electronics, and more, from the SACCO’s partner firms. The loan is designed for quick repayment, providing a hassle-free way for members to acquire much-needed products.
Recognizing the significance of agriculture in Kenya’s economy, Ukulima SACCO has introduced the Kilimo Financing Loan, targeting farmers engaged in profitable agricultural ventures. This credit facility enables farmers to access funds for land acquisition, high-quality inputs, livestock improvement, and other agricultural activities. The loan is a step towards fostering sustainable agricultural practices and enhancing farm productivity.
Small businesses often require short-term financing solutions. The Biashara Fix Loan is tailored for members with existing long-term loans, addressing emergent financial gaps. This loan provides a maximum of Ksh 500,000 for a period of up to 24 months.
Ukulima SACCO has introduced the Bidii Loan to boost liquidity and core capital ratio. This scheme-based loan encourages members to channel their salary through the SACCO, resulting in enhanced deposit purchases and growth of salaried Fosa accounts. The loan, with a maximum repayment period of 96 months, ensures attractive interest rates, multiplier factors, and flexible security options.
Innovation is at the heart of Ukulima SACCO’s commitment to its members’ financial well-being. These new loan products are a testament to the SACCO’s dedication to addressing the specific needs of diverse market segments, thereby fostering economic growth and development.
In conclusion, Ukulima SACCO’s newly approved loan products are a significant step towards enhancing financial inclusion and support for various market segments. The introduction of targeted loan solutions for real estate, tangible consumer goods, agriculture, and MSMEs reflects the SACCO’s commitment to addressing the evolving needs of its members, fostering economic empowerment, and contributing to Kenya’s overall growth and prosperity.
