The purpose of the loan is to plaster his residential house so that he and family can have decent accommodation. He will use the balance to diversify his dairy business by stocking other general merchandise. He is an honest and hardworking man, but he has always been constrained by financial issues in his business.
Franco says given the loan, he will stop renting, and also restock his shop. Being able to have a bigger market will allow him to serve more than just those who buy dairy products from him. He has future hopes of expanding his business and living in a complete house, given the loan amount for which he has applied.
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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