Frank states, "I started my business in 2004 with my small capital which I obtained from the sale of agricultural products like coffee and bananas. Then I joined UGAFODE Microfinance Limited (MDI) in 2005 for financial service assistance so as to expand my business by injecting more capital. With the small assistance I got from UGAFODE, I have been able to build and complete my house. I bought land which expanded my agricultural production. UGAFODE has really enabled me to sustain my timber trade business and I am able to pay school fees for my children and look after my home and wife. I therefore appreciate the good services offered by UGAFODE which have enabled me to improve on my standards of living."
More information about this loan
This loan is part of UGAFODE's program for clients who live in isolated rural areas with limited access to financial services. Uniquely, UGAFODE focuses its efforts on agricultural areas in Uganda that are over 50 km from their branches, providing loans to both groups and individual borrowers. The organization believes that the risk of offering services to remote clients is outweighed by the benefits to customers and their often underserved communities.