Edward says that his major challenges are price fluctuations and long dry spells that reduce the farm's output. He hopes to use this loan to buy agricultural produce to sell at his store, especially sacks of beans and maize. This new inventory will help him improve his income sources and standard of living.
He says he has managed to construct a backyard at his home, making his quality of life improve. Edward hopes to retire from his government job, and have trading in produce be his source of income thereafter.
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