Self-Guaranteed Loans
UBSL Self-Guaranteed Loans
UBSL offers self-guaranteed loans to its members where your own savings held within the SACCO act as the primary security or guarantee for the loan. In essence, you are borrowing against your own funds that are already deposited with the cooperative.
Key Features & Benefits
Your Savings as Collateral
The SACCO uses the money you have saved in your savings account (and sometimes your share capital) as the main form of security for the loan.
Loan Limit Based on Savings
The amount you can borrow is typically a multiple of your total savings and share capital held in the SACCO. The ratio is usually 3 times your savings.
Reduced Need for External Guarantors or Assets
Because your own money is securing the loan, you often don’t need to provide additional collateral like title deeds, logbooks, or rely on external guarantors. This makes it easier and faster for members with sufficient savings to access credit.
Lower Risk for the SACCO
UBSL has a lower risk of default because they already hold funds belonging to the borrower that can be used to offset the loan if repayment fails
Potentially Faster Processing
Since the primary security is readily available within the SACCO, the loan processing can sometimes be quicker compared to loans requiring external collateral and extensive valuation.
Benefits of a Self-Guaranteed Loans
1. Accessibility: Easier access to credit, especially for members who may not have other assets to offer as collateral or who prefer not to involve guarantors.
2. Convenience: Streamlined application and approval process due to the readily available security.
3. Builds Creditworthiness within the SACCO: Successfully repaying a self-guaranteed loan demonstrates your financial responsibility to the SACCO, which can be beneficial for accessing larger or different types of loans in the future.
4. Your Savings Continue to Earn Dividends: UBSL will continue to pay dividends on the portion of your savings that is acting as security, although this can vary.
5. Empowerment: Allows members to leverage their own savings for their financial needs.
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Mobilizing fast and reliable financial support
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Organizing communities for stronger financial empowerment
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Strategic solutions for your financial success
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Empowering the underserved with inclusive financial access
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Securing your path to lasting financial freedom
Trust and Worth
Our Clients
Empower Your Financial Journey
How We Empower Your Financial Journey
At Ushindi Biashara Sacco, we believe everyone deserves a chance to thrive. Our tailored services help you save, borrow, and invest wisely. Whether you need a loan for a dream or to save for the future, weʼre here to support you every step!
Our Tailored Services
These are some of our tailored services:
- Savings Account
- Loan Products
- Dividends and Interests
- Member Education
Empower Your Financial Journey
Transform Communities Across the Globe
Ushindi Biashara Sacco Limited has a significant potential to transform the communities around the globe, and there are numerous examples of this happening. Their impact stems from their core principles and operational models
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Frequently Asked Questions
These are the type of loans designed to finance projects that aim to improve or develop specific areas, industries, or communities.
- Member ownership and democratic governance.
- Lower loan interest rates than banks.
- Profit-sharing among members.
- Personalized service and community focus.
Becoming a member is simple. Fill out our membership form, provide valid ID, and make a minimum deposit of KES.1500 Visit our office or apply online today.