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Elona
Elona is a repeat client for the institution. She has a retail shop in Rwenkurijo Trading Center, Rukungiri District. She has operated this shop for the last six years. She has been taking out loans from UGAFODE Microfinance Limited for her business. However, now she is borrowing 5,000,000 Ugandan shillings to buy building materials to complete her house.

Elona is married with four children, three attending school. She works with her husband who is also a teacher like her. Both Elona and her husband are grateful for the financial assistance which has improved their standard of living.

Additional Information

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.

Tags

About Uganda

  • $1,500
    Average annual income
  • 318
    View loans »
    Uganda Loans Fundraising
  • $29,710,775
    Funds lent in using Kiva
  • 2,524.9
    Uganda Shillings (UGX) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $2,000 helped Elona to buy building materials.
69% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 14, 2013
Listed
Nov 23, 2013
Currency Exchange Loss:
Possible