Tom has got one major challenge; his tenants complain that they are tired of living in houses without power. Because of this challenge, he has been forced to apply for the loan. He will use the loan funds to install electricity, which will meet his tenants’ demand and also add value to his rentals. Installing power involves purchasing wires and an electricity pole, and paying for labour.
He hopes that he will be able to continue paying the loan installments on time and that his houses will gain value and, thus, increase his income. In the photo is the UGAFODE credit officer (wearing a tie), Tom's wife (centre), and Tom.
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.
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