In a bid to tackle the persistent challenge of limited access to affordable credit for small and informal businesses, dfcu Bank has rolled out the SME Mobi Loan, a fully digital, collateral-free loan product under its #SumululaBusiness campaign.
Speaking in an exclusive conversation, William Kayongo, Head of Enterprise Banking at dfcu Bank, said the Mobi Loan is designed to provide instant access to funds of up to UGX 5 million for qualified customers.
“It’s accessible via *240# or the dfcu QuickApp, with no paperwork or collateral required. The goal is to empower SMEs with the resources they need for stock, operations, or emergency working capital,” he explained.
The #SumululaBusiness campaign—rooted in the Luganda word sumulula, meaning “to release”—aims to “free customers from credit bottlenecks,” Kayongo said, noting that the loan offers flexible access for both smartphone and feature phone users.
What sets the dfcu SME Mobi Loan apart is its tailored design for financial inclusion. “We assess eligibility through transaction history and account behavior. Responsible users who repay on time may even qualify for increased limits in the future,” Kayongo said.
Existing dfcu customers with at least six months of active account activity qualify. The bank uses transaction patterns and business turnover—especially for SMEs—to determine loan amounts.
Beyond just access to credit, Kayongo highlighted the broader impact of the initiative. “MobiLoan supports Uganda’s national financial inclusion goals by eliminating traditional barriers. We’re bringing more women, youth, and informal traders into the financial system.”
In closing, Kayongo emphasized: “Credit should work for you. With the dfcu SME Mobi Loan, we’re making sure it does.”
To apply, customers can dial *240# or download the dfcu QuickApp.