He started the business in 2002 and he is happy the business earns him some small income per month. He is also a teacher and the monthly salary he gets boosts his monthly incomes. His business is located in an easy-to-reach busy area and this helps him to get customers from far and near. He started the business mainly because it was in line with what he started and he was convinced it would be a rewarding business. His clients are mainly government parastatals (government businesses), schools and SACCOS (savings and credit cooperatives).
He hopes to use the loan money of two million Uganda Shillings to buy a plot of land so that he can construct a house there in future. His challenges among others are the high cost of rent, high electric tariffs and the bad debtors who never pay back and these take a big portion of his profits. He is a shrewd business man who hopes to overcome the challenges highlighted especially if the loan is given.
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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