100%

funded

Total loan: $700

Herbert

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Mbarara, Western Region, Uganda / Retail

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A loan helped to invest in the purchase of daily use items to sell.


Herbert's story

Herbert is a resident of Katokye, Rwamujojo ward, Sheema district. He was born in 1968 in a humble agricultural family background, in a family of five as second born. He is a primary-five dropout and is married with five children, with the eldest in senior six.

Herbert is engaged in banana farming with two acres coverage from which he earns about UGX 500,000 a month. This he supplements with a retail shop with stock worth Ugx. 1,800,000 from which he makes monthly sales of approximately UGX 300,000. He also possesses an old tipper truck that he uses to transport building materials for people in his community, earning about UGX 600,000 a month.

Herbert is a first time borrower at UGAFODE Microfinance where he has applied for a loan of UGX 2,500,000 for investment in the retail shop. He previously borrowed the same amount from another MDI which he fully repaid before joining UGAFODE.

Herbert projects to have turned his general store into a wholesale store for general merchandise within a period of four years from now. He anticipates funding from Kiva in order for him to realize his dream.