Start Your Journey With Us
Follow our simple application process to become a member, open a savings account, or apply for a loan. We're here to guide you every step of the way.
Application Process
Four simple steps to access our financial services.
Get Application Form
Visit your nearest branch and obtain a loan application form.
Complete Documents
Fill the form and attach all required documents.
Submit Application
Submit your completed form and documents to the Credit Officer at your branch.
Await Processing
Processing takes 2–10 working days depending on the loan type.
How to Apply
Follow these steps when applying for a loan at any of our branches.
- 1
The member fills a loan application form obtained from his or her branch at a non-refundable fee of 5,000/= for individuals and 10,000/= for groups or institutions.
- 2
A filled form is then submitted back for assessment by the Credit officers.
- 3
For individuals, they must attach photocopies of their national ID, or passport or driving license and a recent passport size photograph. For groups, they should attach photocopy of IDs for the signatories and one recent passport size photograph of each signatory plus minutes of the group resolution to borrow with members' signatures.
- 4
Photocopies of the guarantors' IDs.
- 5
Collateral security where necessary.
- 6
Copy of the school circular in case of a school fees loan.
- 7
Filled Farm work plan for agricultural loan picked with the application form.
- 8
Loans processing time ranges between 2–10 working days depending on the nature of the loan.
Lending Methodologies
We offer multiple ways to access loans based on your situation.
Individual Lending
For individual borrowers with their own security and a viable business.
- Loan application form (LAF) is 5,000/=
- The borrower should own his/her own security and it must be worth 150% of the loan
- The client must own a viable business
- The borrower's business should have records
- Must have guarantors
Solidarity Groups
Registered community groups accessing loans collectively.
- A group must have opened an account with Bugadde SACCO — there must be minutes to show members' consent
- The group must have clear rules and regulations governing their operation
- Must have clear documents in terms of books of accounts i.e. cash book, cash box etc.
- A group must have a clear vision and mission (share responsibility)
- On accessing a loan, members should buy shares corresponding to the loan amount at 10%
- Minimum number of members is 15 and maximum is 30
- Loan application form bought at 10,000/=
- Interest rate depends on the loan product
- Members must present minutes about group members' consent on loan requests, specifying each person's need
- Group must be registered at least up to sub-county level
Self-Help Groups
Small enterprise owners saving and borrowing together.
- Target group — members with small enterprises
- Group entry fee is 5,000/=, passbook 3,000/=, initial deposit of 2,000/=
- Minimum number of members is 15 and maximum is 50
- Loan size 100,000/= to 2,000,000/=
- Maximum loan is 500,000/= for first cycle and up to 2,000,000/= for repeated cycle
- Loan term: 2, 3, 4 & 6 months (paid weekly)
- Interest rate 3% flat for first and repeated cycles
- A group must have signed by-laws witnessed by Chairperson LC1, with 3 copies — one with LC1, one with the group, one on file
Investment Clubs / Groups
Member-led clubs that assess and guarantee each other's loans.
- Must have leaders amongst themselves
- Minimum number is 10 members and maximum is 30
- Member applies for a loan and all members of the club must guarantee each other
- Members make assessment on applicant's business, household, security pledged and make recommendations
Zone Methodology
Members organized by location (parish/village) into zones and benches.
- Members are zoned according to parishes or villages
- Minimum number is 50 members and maximum is 250
- Basing on the size of membership in a zone, benches are formed of 5–10 members according to economic activities undertaken by members
- Each bench must have a leader in charge of members of a particular bench (bench leader)
- Zones must have record books to enable easy tracking of members' information i.e. membership register, attendance register, minute book, cash management book
- Members meet on particular dates set by members themselves — weekly, bi-weekly or monthly
Ready to Get Started?
Visit your nearest branch with the required documents or contact us for assistance.