Small and Medium Enterprises (SMEs) are the backbone of Uganda’s economy. They employ millions, foster innovation, and contribute significantly to national output. Yet, access to affordable and timely credit remains a persistent challenge.
Traditionally, securing a business loan in Uganda has meant navigating collateral requirements, filling out paperwork, and waiting through lengthy approval times. Many entrepreneurs end up stranded at the very moment they need financing.
To address this, dfcu Bank introduced the SME Mobi Loan in June 2025 — a fully digital, unsecured, paperless loan designed specifically for SMEs. Available through the dfcu QuickApp and USSD code *240#, the facility gives businesses instant access to between UGX 250,000 and UGX 5 million, repayable within 30 days.
We sat down with William Kayongo, Head of Enterprise Banking at dfcu Bank, to unpack what this innovation means for Uganda’s entrepreneurs.
Q: What exactly is the SME Mobi Loan?
Kayongo: The SME Mobi Loan is a short-term, fully digital facility designed for small and medium enterprises that need quick working capital. It can help with restocking, paying suppliers, or meeting payroll obligations. The process is entirely mobile — no collateral, no paperwork. Customers apply via *240# or the dfcu QuickApp, and once approved, the money is credited to their account within minutes.
Q: Why did dfcu Bank launch this product now?
Kayongo: SMEs have long highlighted their biggest pain points: slow loan processing and collateral requirements. The SME Mobi Loan, launched in June 2025, is part of our digital transformation strategy. Our goal is to remove those barriers so businesses can focus on running and growing.
Q: How does this differ from the earlier Mobi Loan?
Kayongo: The original Mobi Loan was tailored for individual retail customers. The SME Mobi Loan is exclusively for businesses and focuses on working capital — the day-to-day needs that keep enterprises operational.
Q: Who qualifies for the SME Mobi Loan?
Kayongo: To qualify, you need a dfcu business account in good standing. We also review your transaction history, including turnover and account activity, and consider how long you’ve banked with us. Finally, we assess repayment history — both with dfcu and other financial institutions — to ensure we’re extending credit to businesses with a proven track record.
Q: How are loan limits determined?
Kayongo: Limits are dynamic. We assess businesses based on their account activity, cash flow, tenure, and repayment behaviour. If your business grows and you maintain a good record, your borrowing limit can increase. The reverse also applies.
Q: What are the loan terms?
Kayongo: Loan amounts range from UGX 250,000 to UGX 5 million, with a repayment period of 30 days. It’s intentionally short-term and designed to respond to urgent, everyday capital needs.
Q: How can customers apply?
Kayongo:
- *Via USSD (240#): Dial in, select the Mobi Loan option, confirm the offer, and authenticate. Approval and disbursement happen instantly.
- Via the dfcu QuickApp: Log in, check your pre-qualified limit and terms, accept the offer, and authenticate. The funds are credited immediately.
Q: Can loan limits or pricing change over time?
Kayongo: Yes. Both limits and pricing are dynamic, adjusting based on customer behaviour and market conditions.
Final Thoughts
The dfcu SME Mobi Loan is not just about credit — it’s about trust, speed, and access. By removing collateral and paperwork hurdles, dfcu Bank is equipping entrepreneurs with the flexibility to respond to opportunities, manage their cash flow, and grow their businesses on their own terms.