Evalist now wants another loan of UGX 1,500,000 to buy material for completing the construction of his house. He hopes to pay back the loan in installments which will not affect his business.
Evalist has a dream of completing this house and having his family living in a good environment. However his major problem has been the limited capital he has in his business as opposed to the family expenses including payment of school fees. In the photograph is Evalist (left) and the credit officer (right).
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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Success!! The loan was 100% repaid