Small and Medium Enterprises (SMEs) are the backbone of Uganda’s economy. They employ millions, drive innovation, and contribute significantly to national output. Yet, one challenge continues to hold them back: access to affordable, timely credit.
Traditionally, securing a business loan in Uganda has meant navigating collateral requirements, paperwork, and long approval times. Many entrepreneurs are left stranded just when they need capital the most.
dfcu Bank has stepped in to change that. In June 2025, the bank launched the SME Mobi Loan — a fully digital, unsecured, paperless loan tailored specifically for SMEs. Available through the dfcu QuickApp and USSD code *240#, this solution allows business owners to borrow between Shs 250,000 and Shs 5 million instantly, with a 30-day repayment term.
We sat down with William Kayongo, Head of Enterprise Banking at dfcu Bank, to discuss what this product means for Uganda’s entrepreneurs.
Q: What exactly is the dfcu SME Mobi Loan?
William Kayongo: The dfcu SME Mobi Loan is a short-term, fully digital loan designed for small and medium businesses that need quick working capital. Think of it as a lifeline for stocking up, paying suppliers, or bridging payroll. It’s unsecured, requires no paperwork, and is applied for via mobile phone — either *240# or the dfcu Quick App. Once approved, funds land in the customer’s account within minutes.
Q: Why launch this now?
Kayongo: SMEs have been very clear about their pain points: long turnaround times and collateral demands. We launched the SME Mobi Loan in June 2025 as part of dfcu’s digital transformation strategy — removing barriers to finance so SMEs can focus on growth.
Q: How is this different from dfcu’s earlier Mobi Loan?
Kayongo: The original Mobi Loan was created for individual/ retail customers. The SME dfcu SME Mobi Loan is specifically for businesses. It focuses on working capital — the day-to-day needs that keep businesses running.
Q: Who qualifies for the SME Mobi Loan?
Kayongo: Eligibility is straightforward. First, you must hold a dfcu business account in good standing. Second, we assess your transaction history; including turnover patterns, account activity, and how long you’ve banked with us. Finally, you need a solid repayment record, whether with dfcu or other financial institutions. These factors help us ensure the loan goes to businesses with a proven track record and the capacity to grow.
Q: How are loan limits determined?
Kayongo: Limits are dynamic. We score customers using their account activity, cash flow, tenure, and past repayment behaviour. If your business grows and you maintain a good record, your limit can increase. The reverse also applies.
Q: What are the loan terms?
Kayongo: Amounts range from UGX 250,000 to UGX 5 million, with a repayment period of 30 days. It’s designed to be flexible and responsive to daily working capital needs.
Q: How do customers apply?
Kayongo:
- On USSD (240#):Dial in, select the Mobi Loan option, confirm the offer, and authenticate. Approval and disbursement are instant.
- On the dfcu Quick App: Open the app, review your pre-qualified limit, terms, and due date, then accept and authenticate. Funds are credited immediately.
Q: Can limits or pricing change over time?
Kayongo: Yes. They’re dynamic and will reflect customer behaviour and market conditions.
Final Thoughts
The dfcu SME Mobi Loan isn’t just about credit; it’s about trust and access. By removing paperwork and collateral barriers, dfcu Bank is giving Uganda’s entrepreneurs the chance to respond quickly to opportunities, manage cash flow, and grow their businesses on their own terms.
