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Michael
Michael is a second-time borrower of UGAFODE Microfinance Ltd (MDI) and is applying for 2,500,000 Uganda shillings. He resides in the outskirts of the city with his wife and four children, two of whom attend school. He sells fish in two various markets as his main source of income, and this has enabled him to build a small house and educate some of his children.

He applied for the loan purposely to expand his business and renovate his house that is in a sorry state. His future plan is having his house renovated and giving his children a good education. He is confident that with the partnership of Kiva lenders and Ugafode, his dreams will be a step closer to reality.

Additional Information

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.

About Uganda

  • $1,500
    Average annual income
  • 305
    View loans »
    Uganda Loans Fundraising
  • $29,652,575
    Funds lent in using Kiva
  • 2,560.0
    Uganda Shillings (UGX) = $1 USD

Success!! The loan was 100% repaid

A loan of $800 helped Michael to renovate his house.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 18, 2013
Listed
Apr 21, 2013
Currency Exchange Loss:
Possible
Ended:
Feb 17, 2014