Peter has approached Ugafode to get a loan of 1,500,000 Ugandan shillings to be used for agriculture, especially for preparing the land for the next season, harvesting the current maize he has and also expanding the poultry business.
Peter's dream is to buy more land and start growing maize on a larger scale for more harvest and profits. However, Peter says that the major challenges to this are having limited capital, the seasonality for agriculture, as well as the price fluctuation for agricultural produce on the market. In the photograph, Peter is on the left, and the Ugafode credit officer is also shown in the client's maize garden.
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