Sociallend

Social Lend

About this app

Sociallend provides business credit with structured repayment terms for small and medium enterprises. The app allows users to request financing, manage repayments, and track transaction history from a mobile wallet.

Loan Terms
• Loan Amount Range: UGX 30,000 to UGX 3,600,000
• Repayment Period: Minimum 90 days and up to 12 months
• Maximum APR: 33.6% APR (derived from a monthly interest rate of 2.8%)

Representative Example

If a borrower receives UGX 1,000,000 for 12 months at 33.6% APR, the total repayment amount will be UGX 1,336,000, payable in scheduled installments.

Features
• Request business credit through the app
• Submit supporting documents such as invoices or purchase orders
• View repayment schedule and transaction records
• Receive reminders for installment due dates
• Track ongoing and past loan performance

How It Works
1. Register using your National ID
2. Provide business information and supporting documentation
3. Submit your credit request
4. If approved, funds are deposited into your Sociallend in-app wallet

Eligibility
• Must be operating a registered business
• Must submit verifiable business documents
• Personal loan requests are not supported

This app provides credit strictly for business purposes and does not provide loans for personal, salary advance, consumer spending, or household use.

Terms and conditions apply.