Paul, 44 years old, is married with four children, all of whom are in school. He acquired a loan of UGX 1,000.000=. He trades in coffee at Kirembe in rural Ishaka. He also trades in cattle to get some additional income. His business started in 2008 with challenges but as of now it has stabilized and he can get an income to support his family and pay school fees for his children who are in secondary school. His clients are people from within and around Kirembe-Katenga because he serves as a monopolist. He hopes to expand his business to meet the ever-growing market for the products. He is a committed man who is self-reliant and who freely associates with the local people. He thanks the bank for financial support at reduced interest rates.
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.