Polycarp wants a loan of 2,500,000/= (two million and five hundred thousand shillings) to buy fertilizers for his tea plantation and pesticides for spraying his tea. Since it is a rainy season, he anticipates to have a bigger harvest after applying the fertilizers to the plantation.
Polycarp's dream is to expand his tea plantation and also buy a motor vehicle to enable him transport the tea leaves to the factories he supplies. His biggest challenge is the ever changing weather which comes with very heavy rain and then dry spells that mean he has to look for water during the dry season, and this affects his yield.
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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Success!! The loan was 100% repaid