Sizario is an old client in the institution who applied for a loan of 1,000,000. He runs a small retail shop in a trading centre and has been doing this for more than four years. The purpose of the loan is to construct a simple house for his family and to restock his shop so that he can raise money to maintain his family, pay school fees for his siblings and develop himself. Sizario is an honest and very hard working man but is always limited by capital. His dream is opening a supermarket in the city centre where he says turnover and profit margins are higher than where he is currently operating. Sizario faces several problems including poor means of transport, fluctuating prices for his products, which frustrates his customers and customers who receive credit and refuse to pay back. However, his biggest problem is limited capital, which hinders him from buying all the products that his customers want. With this loan, he is hopeful that the situation will improve gradually.
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.