He wants a loan of 2,000,000 UGX. With the loan he will be able to renovate his residential house that is in a sorry state as witnessed in the picture. Apparently he is not safe from rodents like rats and ants which access his house easily due to the aged wood. He also wants to renovate the leaking roof because the children are continuously hit by rains, more so in this rainy season.
His dream is to construct a permanent house for the family in the near future. He will use the proceeds from his business to repay the loan. He still has challenges of limited capital and the fluctuation of agricultural products on the market. In the photograph is Tadeo with the UGAFODE Credit officer.
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.
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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