OBUMWE MICROFINANCE MODEL
OBUMWE MICROFINANCE Limited follows the highly efficient and socially responsible Obumwe Model, a cost-efficient, Affordable, standardized, and sustainable model of microfinance. Our Management and staff are seriously implementing this model by providing quick and affordable financial services to all Ugandans and more specifically targeting youth and women to be key players in the Ugandan financial space thus fostering financial inclusion and independence.
Loan disbursements, repayments, record-keeping, etc. are all standardized and we have a seamless and friendly work environment that ensures customer dignity. Our Office team and field staff facilitate efficient and decentralized/ centralized decision-making. We actively seek to prevent overleveraging of clients by capping loan sizes and by not granting new loans before current loans are fully repaid but we understand that clients at times face hardships and may need top ups and thus, we seek to engage to understand our customers better, so we are always providing workable solutions.
Our lending approach is based on individual lending with guarantors. We offer individual loans and Business loans. Guarantors are only responsible for paying for a defaulted client, tracing, or looking for a client in case he or she is lost. The guarantor help foster financial discipline by encouraging each other to repay loans on time.
Screening or selecting of potential new clients is a responsibility of our staff,guarantor, and our credit committee.
Before a loan is disbursed, the loan officer/s and the branch managers carry out a credit evaluation process. The loan application must then be approved by the branch manager and credit committee as well as Managing Director, but all this takes a short period of time for a decision to be made.
OBUMWE MICROFINANCE Limited believes in the Mantra that ‘’IN UNITY, WE DEVELOP’’, so we urge every individual out there in need of our financial services to reach us on all our platforms and we are on standby to lend our listening ear to your service.
