For the past two years, Loyce has been working hard to manage her salon, where she works as a hairstylist.
To help expand her business, Loyce has requested a loan in the amount of 2,000,000 UGX from BRAC Uganda. The loan proceeds will be used to buy more essentials for her salon, including braids and a hair dryer. She expects that the loan will help her generate increased profits and will enable her to improve her family's living stardands. In the future, Loyce hopes to expand her business into a vocational hairstylist training center.
Loyce is a member of BRAC's Small Enterprise Program (SEP). The program primarily serves small entrepreneurs like Loyce who do not have enough collateral for commercial loans, but who have businesses that have grown too large for microloans.
About BRAC UgandaThis 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.
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Success!! The loan was 100% repaid