Group Guarantee Loans
Group Loans are RUFI’s main product which has reached many clients. These are loans provided to low income entrepreneurs especially women who lack collaterals to secure a conventional loan. A minimum of 3 members is allowed per group who can take a loan maturing between 3-8 months with weekly or bi-weekly repayments. They should be willing to co-guarantee each other.
Individual Loans
These are provided to entrepreneurs whose capital cannot benefit from the group loans or have graduated out of the group loan product. All individual loans must be secured by a combination of documented collateral. The loan period ranges from 3-18 months with monthly payments.
Agricultural Loans
Village Savings & Loan Associations, VSLA Loans
This product is specifically for mature Village Savings and Loan Association (VSLA) Groups with good savings and loan performance but have a greater need for loan capital more than their internal savings can support. Loans are given to VSLAs as an entity other than individual members. The entity then can on-lend to members and also recover from them. The loan period ranges from 3-10 months as it follows the shared out period.
This is one of the product with the biggest clients especially the women and refugees who are able to access finance for consumptions, meet emergency and some have started their businesses as well increased capital through this loan product
Green Energy Loans
This is an in-kind loan facility where clients procure solar products and energy savings stoves from RUFI and then pay in installments. Under this product, RUFI sources for genuine green energy products from reputable vendors which products are then issued in terms of loans to the clients. For clients who have an outstanding loan but have effectively serviced 3 loans previously, they can be allowed to take a Green Energy Loan as a second loan while the parent loan is still outstanding.
Loan period ranges between 3 – 10 Months with repayment modes varying between bi-weekly and monthly. Unlike other loan products, there is no need for additional security as the item procured acts as the security for the loan.
