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Stella

Update on Stella

Stella is grateful for the loan facility advanced to her by Ugafode Microfinance. Her husband being a builder, they realised that if he applied his skills, it would be cheaper to start their own house instead of renting, which was not sustainable given their meagre resources.

They thought it wise to start a small house with their little savings to be supplemented by a loan. They hope to pay back using the profits from the retail shop as well as the husband's income. Stella is hard working and resilient.

Previous Loan Details

Stella is a 35-year-old woman operating a small retail shop that majorly deals in consumer goods. Stella applied for a loan of UGX 400,000 to pay school fees for her daughter in secondary school. They have a family of four children and they are all of school-going age. Stella's husband is a b... More from Stella's previous loan »

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

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

  • $1,800
    Average annual income
  • 235
    View loans »
    Uganda Loans Fundraising
  • $31,036,700
    Funds lent in using Kiva
  • 2,495.0
    Uganda Shillings (UGX) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,625 helped Stella to buy building materials.
98% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 9, 2013
Listed
Dec 22, 2013
Currency Exchange Loss:
Possible
Ended:
Feb 20, 2015
This photo was used before for a previous loan for Stella. It was first posted on Kiva on Jul, 2012. Learn More