He started the business of cattle trading in 1998 with limited capital. He struggled to run the business, which was his major source of income for all his financial needs for several years.
In 2010, he found out that it was difficult for him to maintain his business and meet his family’s needs and educating his children. He joined UGAFODE Microfinance Limited (MDI) – Rukungiri Branch to get financial assistance to boost his business and got help with his cattle trading.
Erick has been able to educate his children without affecting his business with the loans from UGAFODE Microfinance Limited (MDI). He uses these loans to buy cows and sell them to butchers and butcheries at relatively profitable amounts. This has enabled him to meet his family obligations and maintain his business empire. Erick also praises UGAFODE Microfinance Limited (MDI) for financial support which it extends to low income earners.
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.
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