Raymond is 27 years old and lives in the town of Hoima in the region of Uganda. He is married and has two children. For the past three years, Raymond has been working hard to manage his clothes store, which sells men's, women's and children's wear.
To help expand his business, Raymond has requested a loan of 3,000,000 Ugandan Shillings from BRAC Uganda. The loan will be used to purchase more cloth to make clothes, and will help Raymond to generate greater profits and improve his family's standard of living. Raymond hopes that in the future he will be able to own a big boutique and build a house.
Raymond is a member of BRAC's Small Enterprise Program (SEP). The program primarily serves small entrepreneurs like Raymond who do not have enough collateral for commercial loans, but have businesses that have grown too large for micro-loans.
About BRAC Uganda
This loan is administered by BRAC Uganda, a registered non-governmental organization (NGO) in Uganda that is also a part of the BRAC international network. BRAC Uganda attempts to address poverty through a holistic model, offering programs in education, health, water & sanitation, agriculture, and microfinance. BRAC Uganda’s microfinance program aims to provide the poor with easy, reliable, and efficient access to institutional financial services, and reaches over 150,000 families in Uganda. For more on BRAC Uganda, please see our partner page, and join our lending team, Friends of BRAC Uganda.