1. Definitions:

• Loan: Financing provided by FINCA Uganda Limited (MDI) via its digital channels.
• Agreement: This Mobile Loan Agreement, including annexes, amendments, and related documents.

2. Loan Details

• Loan type: Mobile loan (via FINCA Mobile App).
• Loan period: 1 month.
• Loan amount: Based on what you apply for and qualify for.

3. Costs of the Loan

• Interest: 5.73% per month.
• Processing fee: 2% of the loan.
• Insurance: 1.23% of the loan (covers death, disability, or catastrophe).
• Borrower bears all other administrative or legal costs associated with the loan including loan recovery related charges.

4. Repayment

• The full loan shall be repaid within 1 month.
• Late repayment: 0.1% per day of overdue loan amount plus normal daily interest.
• Payments must be made only through FINCA-authorized channels (mobile, agency, branch).

5. Security – The loan is unsecured and its repayment relies on the Borrower’s creditworthiness and financial capacity.

6. Borrower Covenants

• Provide accurate financial and business information when requested.
• Maintain primary banking relationship specifically banking of business proceeds, making regular deposits with FINCA Uganda during the loan tenure.
• Comply with all applicable laws, regulations, and FINCA policies, including anti-money laundering and anti-corruption regulations.
• Repay the loan on time; FINCA may recover funds from any borrower accounts in case of default.
• Permit FINCA to perform credit checks and report loan performance to credit reference bureaus.

8. Insurance

• Borrower shall pay credit life insurance premiums as specified.
• Coverage includes death and permanent disability.

9. Ethical Standards & Restrictions

Borrower shall:

a) Adhere to the highest standards of ethical conduct, including honesty, integrity, fairness and transparency in all dealings related to this agreement.

b) Comply with all applicable laws, regulations and company policies relevant to their activities under this Agreement.

Borrower must not engage in:

• Illegal trade or activities.
• Weapons, gambling, alcohol/tobacco business (as primary business) forced/child labor.
• Activities causing environmental harm or degradation.
• Corruption, bribery, fraud, discrimination, money laundering, or financing of terrorism.
• Any other illegal or unethical practices.

10. Loan Sanction & Recall

• FINCA may recall the loan at any time if borrower is deemed risky.
• Borrower agrees to provide requested documentation, clarification, or inspections to FINCA for loan monitoring and compliance.

11. Legal & Governing Law

• This agreement is governed by the laws of the Republic of Uganda.
• Disputes will be submitted to the competent courts of Uganda.
• If any provision is invalid or unenforceable, the remainder of the agreement shall remain valid and enforceable.

12. Declarations and Warranties

I. The Borrower shall abide by all terms, conditions, warranties, stipulations and all other provisions of its insurance policies required unless failure to do so would not render such insurances void, voidable, unenforceable, suspended, impaired or defeated in whole or in part.

II. The Borrower shall promptly obtain, comply with and do all things incidental to enabling it to perform its obligations under this agreement in accordance with applicable law in all material respects, and to ensure the legality, validity, enforceability and admissibility in evidence of this agreement in its jurisdiction of incorporation.

III. His or her obligations under the Agreement are his or her legal, valid and binding obligations, enforceable against him or her in accordance with their respective terms.

13. Acknowledgement – By accepting this agreement, the Borrower confirms that they have read, understood, and agreed to all terms, conditions, obligations, costs, risks, and legal exposures described in this Mobile Loan Agreement.