Richard is 40 years old and lives in the town of Kyotera in the Masaka region of Uganda. He is married and has six children, five of whom are currently in school. For the past seven years, Richard has been working hard to manage his grocery store, which sells items like sugar, flour, and rice.
To help expand his business, Richard has requested a loan of 3,000,000 Ugandan Shillings from BRAC Uganda. The loan will be used to purchase more items for sale. This will help Richard to generate greater profits and meets his customers' needs. Richard hopes that in the future he will be able to start another business.
Richard is a member of BRAC's Small Enterprise Program (SEP). The program primarily serves small entrepreneurs like Richard 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.