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Benon
Benon is 35 years old and married with three children who all attend school. He operates a general merchandise mobile shop, which he operates on various market days in Rukungiri District. The major challenges he is facing are weather and competition since there are many people who deal in the same business. He applied for 3,000,000 Shillings from UGAFODE Microfinance Limited (MDI) with the purpose of completing his residential house that is under construction.

Benon decided to apply for a loan so he does not have to affect his business by withdrawing money from it to finish his house. He hopes that with the available funds, he is going to have his business running smoothly and finish his house at the same time.

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.

About Uganda

  • $1,800
    Average annual income
  • 292
    View loans »
    Uganda Loans Fundraising
  • $30,664,300
    Funds lent in using Kiva
  • 2,505.0
    Uganda Shillings (UGX) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,200 helped Benon to complete construction of his house.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 23, 2013
Listed
Dec 23, 2013
Currency Exchange Loss:
Possible
Ended:
Jun 17, 2014