Jolly is a shrewd 58-year-old single mother who has two dependents who she pays school fees for. She offers services in the form of rentals to earn a living and to pay school fees. Her main clients are low-income earners who cannot afford rent for upscale Kampala. Having been built way back in 1985, the rental properties are no longer up to the current standard and she would like to renovate them so that they can be more habitable for her tenants. Her dream is to turn them into a daycare for children of working mothers who have no maids if she gets enough funds. Her main challenge is competition.
More information about this loan
This loan is part of UGAFODE”s Micro Mortgage Loan program. Many of these clients are currently renting and these loans allow them to own their home and provide for their families. This may be their first home, or renovation to homes not fit for habitation. By building and renovating, borrowers who utilize these loans have improved health and safety through a stronger structure and better protection from the elements. UGAFODE offers these loans to cover essential costs like labour and material so borrowers can provide adequate shelter and sanitation facilities for their families.