Question: What can I do if I am having trouble paying my microfinance business loan?

Answer: There is no need to panic! The Uganda Microfinance Regulatory Authority (UMRA) is taking action to help small and medium businesses right now. Contact your microfinance institution right away and find out what they can do for you concerning your loan repayment.

The Uganda Microfinance Regulatory Authority (UMRA) has instructed microfinance institutions and Money Lenders to grant a moratorium or deferment for loan repayments to borrowers that have been affected by the pandemic on a case by case basis.

Here is what you need to know:

  • If you received a loan prior April 2020 and you were repaying on time, you can apply for a moratorium with your microfinance institution
  • Having a moratorium means that you may be able to delay payments for up to 3 months on loan installment and interest accrued. This means that you will still need to repay the loan in full, with all interest and charges as agreed with your microfinance institution.  UMRA has suspended the payment of arrears as a pre-condition for restructuring loan term for up to 12 months, meaning that you can negotiate with your microfinance institution even if you have arrears.
  • Restructuring of your loans as a result of the COVID-19 pandemic will not negatively impact your credit risk profile.
  • There are consumer protection guidelines in place by UMRA to protect you, which lenders must adhere to through 31st March 2021

Stay home and talk with your microfinance institution if you are having trouble with loan repayments. It is in the best interest of your business – and of your microfinance institution – for you to succeed, even if there is a delay in payment.  Use digital channels made available by your lender during this time.

Nina obuzibu okusaula loan yange mu microfinance. Nkole ntya?

Ekibuuzo: Nkole ntya bwemba nina obuzibu okusasula looni yange eya Microfinance?

Answer: Teweelariikirira! Uganda Microfinance Regulatory Authority (UMRA) ekola kyonna ekisoboka okuyamba bizinensi entonotono mukaseera kano. Tuukirira micro finance yo   mangu ddala omanye kyebasobola okukukolera kubikwaatagana nokusasula looni yo

Uganda Microfinance Regulatory Authority (UMRA) elagidde ebitongole byonna ebiwola sente n’abantu ssekinnoomu okuwa abantu bonna abeewola naye nga bizinensi zaabwe zikoseddwa ekilwadde kino ebbanga eddala mwebalina okusasulira sente nga ensonga bazikola emu kweemu nga bweeba ezze

Bino byolina okumanya:

  • Bwooba wafuna looni nga omweezi gwa April 2020 tegunnatuuka era nga obadde osasula bulungi, osobola okusaba ebbanga eddala mwoosasulira okuva mukitongole ekyakuwola ssente
  • Kino kitegeeza nti osobola okukeerewamu okusasula okumala emyeezi 3 ku bitundutundu byolina okusasula namagoba agaba gagenzeeko. Kino era kitegeeza nti ojja kuba olina okusasula looni yo mubujjuvu byaayo, namagoba gonna n’ebisale ebilala nga bwemwabikkaanyaako n’ekitongole gyeweewola. UMRA eweze okusasula kwa sente enkadde ezibanjibwa naye nga akakkwakkulizo kali nti muddamu nemujiteesaako okujisasula mu bbanga eritasukka myeezi 12. Kitegeeza nti okyaasobola okuteesa n’ekitongole ekyakuwola singa oba olinaye sente zootaasasula.
  • Okuddamu okuteesa ku looni yo olwa covid-19 tekijja kukosa bwesimbu bwolina mukusasula amabanja
  • Waliwo amateeka agakuuma gwwe omweewozi abawola gebalina okugoberera okuyiya mukaseera kano okutuuka nga 31st March 2021.

Sigala ewaka oyogere n’ekitongole kyo bwooba olina obuzi mukusasula looni yo. Kino kiyamba bizinensi yo wamu n’ekitongole gyeweewola okusigala nga kyiri mumbeera ennungi nebwewabaawo okukeerewa mukusasula. Kozesa emitimbagano  egyateekebwaawo ekitongole gyeweewola mukiseera kino