Wondering how to start a money lending business in Uganda?
We all have been asking how we make money from the lending business. We have also been wondering if it’s good to start money lending in other countries.
Today we will take that business to Uganda.
Uganda is a country in East Africa well known for its diverse culture. Also because of their political side, but today we are going to talk about how to start a money lending business in Uganda.
We all require money in our day-to-day activities. Well, having a lending business is a great way to start earning.
But before starting a money lending business their things, you need to consider first:
Well, it’s simple, earnings mostly are from interests or overdue payments. Besides, also there is collateral that is considered when one fails to pay.
Since the business is yours you get to decide how much you charge for loan repayments and what collateral you get when one fails to pay.
The time is now, why? Because money is never enough, also you never know when emergencies can hit. Well, also there is a risk-free software management system that can help you manage your loans.
Every business has a risk, but with risks come rewards. There is a credit management software that we will talk about that will help you safeguard your business.
Well, it’s not cheap. You need startup capital, office/equipment cash, registration fees, licenses, and any other charges.
1. Business name- this is one that is going to sell your business, it’s also what people will be looking for when they want a loan.
2. Business strategy- your plans, your rates too, terms and conditions, and everything you need for your business.
3. Legal documentation- immigrants should have documents to support their stay and their business.
4. Business Permit- this legal document states that your business is legal and it’s recognized and permitted to conduct business transactions.
5. Website and hosting plans- this is a platform that you will give more information on about your business, and any other business-related information.
6. Terms and Conditions- every business needs the codes and legalities on how they operate.
Money lending is lucrative, due to technology it has become easy and fast to reach many people, which guarantees you earn your pay.
Well, now you have started the business, how do you keep the records? How do know who and what do they owe you? Introducing Jisort:
It’s a web-based credit management software that helps keep records of all transactions done, may it be in Banks, SACCOS, Credit Unions, and many other financial institutions.
Jisort also is fully integrated with:
Being up and running for 6 years Jisort has helped both Local and International businesses and financial institutions to run.
Besides providing credit management software they also provide Bulk SMS Services to help reach clients fast and easily.
The above is a simple demo of how the system looks like. So, you get to manage your clients as you see both Interest and Expenditures.
1. It’s simple- keeps all information in one place, doesn’t take long to access different client’s data.
2. Affordable- with just $20 you can manage all your client’s data safely and keep all records of transactions made.
3. Easy to keep records- Every detail of the transaction is recorded so you don’t need to keep writing or using files for every client.
4. Provides many other services- not only will you get your records saved, you get to send unlimited texts and other services.
5. Easy to manage and approve loans- the system displays whenever a transaction is done, you can monitor every progress as it happens.
Register and get this system now.
Don’t just sit on your idea. Make money out of it, gather enough information, and dive into the money lending business.
Besides, it’s with risks comes rewards. Good luck!
