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A product of Enabling Finance Ltd.

Loan Processing Time

While pre qualification/assessment time under Finablr vary from collateral category to category and on the technicalities that each case presents, here are the general cost ranges to consider:

Vehicles

1-3 Working days

Electronics

8 working hours

Real Estate

5-7 Working days

The Lending Process

You can become a part of the Finablr network as a lender by following the simple steps.

  • Download the Finablr App

  • Fill in your details and sign up for account

  • Complete profile with details lending preferences such as loan, interest and term limits etc

  • Await loan request from Finablr borrowers

  • Select your ideal borrower. Accept terms or make counter offer as you prefer.

  • Sign e-contract with Finablr borrower

  • Send Funds to EFL

  • Receive repayments as per agreed upon terms.

Collateral

Finablr is constantly evolving, pushing the boundaries to embrace a wider range of marketable collateral. As we continue to expand our horizons, here are the categories we currently accept:

  • Pictures of device

  • Functionality Assessment/valuation report

costs involved

While pre-qualification/assessment charges under Finablr vary from collateral category to category and on the technicalities that each case presents, here are the general cost ranges to consider:

Collateral
Costs Involved
Amount (UGX)
Electronics
Assessment/Valuation
10,000 - 80,000
Vehicles
Assessment/Valuation
80,000 - 400,000
Tracker and Installation
280,000
Insurance
400,000
Caveat
180,000
Real Estate
Assessment/Valuation
350,000+
Mortgage/Deed
200,000+

  • Download the Finablr App

  • Sign up and fill in your details

  • Complete your profile with the required information

  • Submit your loan request details

  • Wait for due diligence to be completed; once approved, you’ll be matched with suitable Finablr lenders.

  • Choose a lender, negotiate terms, and sign the e-contract

  • Deliver your collateral to Finablr

  • Receive funds directly on your phone

The Borrowing Process

You can become a part of the Finablr network as a borrower by following the simple steps.

24 WORKING HOURS
IF COLLATERAL IS
PRE-REGISTERED

Charges and fees

Here, we elaborate upon other various costs one could expect to encounter at one point in their usage of the service.

Category
Particular
Fee(UGX)
Collateral Assessment Fees
Borrower cost
Dependent on collateral used.
Service Fees
Borrowers cost
6.5% - 10% of loan principal
Lender cost
30% of interest and late fees payable by borrower
Penalties
Loan cancellation
1 - 1.5% principal loan amount 350,000+
Late repayment fees
6.5 - 11% on Accumulated Outstanding Principal
Money Transfer fees (3rd Party provided: Visa, Mobile Money)
Visa/MTN/Airtel
Dependent on service provider used.

Additional
Information

  • The lender shall incur the cost (if any) of sending cash to EFL’s collection account.

  • EFL shall incur the cost (if any) of sending lender's money from EFL’s collection account to borrower's account.

  • The borrower shall incur the cost of withdrawing (if any) the received cash from his/her registered account.

  • The borrower shall incur the cost (if any) of sending cash to EFL’s collection account in repayment.

  • EFL shall incur the cost (if any) of sending the borrower's repaid cash from EFL’s collection account back to the lender.

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