With her little savings from the business Juliet bought a small piece of land on which she now wants to begin construction with the loan funds she is acquiring. She hopes that when the house is complete, she will be free from the burden of renting and will use that money to pay tuition for her son.
Juliet is faced with challenges of insecurity because thieves steal her goods in the night at times. However she is persistent and confident that all this will change and her business will grow to self-sustainability.The ninth person is the group chairperson who is not taking out a loan this cycle but signed a waiver form.
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.
This is a Group Loan
About Housing Loans
Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.
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Success!! The loan was 100% repaid