A loan helped to invest in technology to serve borrowers remotely and to continue operations including paying staff salaries during the COVID-19 crisis.

Ugafode Microfinance's story

This loan is part of Kiva’s Crisis Support Loan program to assist our Field Partners directly so they can continue to support our borrowers. Because it is part of a pilot program, this loan may have a higher risk. Read more in the "More about this loan" section below.

UGAFODE is a microfinance bank located in Kampala. Since 2012, UGAFODE has worked with Kiva lenders to provide loans to over 23,000 borrowers with more than $9,590,825 lent through Kiva.org. UGAFODE has a strong social focus and tailors loan products to low-income and underserved clients. In 2020, UGAFODE became the first bank in Uganda to open a branch in a refugee settlement and before the pandemic was on track to open another refugee dedicated branch before the end of the year.

While historically a stable and sustainable organization, the global pandemic has led to Uganda being under lockdown, which has severely impacted UGAFODEs’ operations including reducing their ability to disburse loans and to receive repayments on the loans they disbursed before the crisis.

Like many other businesses, UGAFODE is unable to operate normally as a result of the crisis, leading to a need to access flexible working capital. This loan will allow them to be able to invest in upgrading technology to be able to serve borrowers remotely, rather than borrowers having to travel to a branch office. This loan will help UGAFODE to weather the COVID-19 crisis and continue their operations serving underserved populations.

This loan is special because:

“This loan helps Field Partners withstand negative economic impacts of the COVID-19 pandemic.”

Loan details

Lenders and lending teams

Loan details