Stephen is 32 years old and lives in the town of Namutumba in the Iganga region of Uganda. He is married and has four children, with three of them currently in school. For the past five years, Stephen has been working hard to manage his retail store which sells salt, sugar and other items.
To help expand his business, Stephen has requested a loan of 3,000,000 Ugandan shillings from BRAC Uganda. The loan will be used to expand the business with new and different items for the store and will help Stephen to generate greater profits and meet customers' needs. Stephen hopes that he will be able to build a home for himself in the future.
Stephen is a member of BRAC's Small Enterprise Program (SEP). The program primarily serves micro entrepreneurs like Stephen who do not have enough collateral for commercial loans but have businesses that have grown too large for microloans.
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.