A loan of $950 helped to buy land.


Tonny's story

Tonny is a new client and a first time borrower of UGAFODE Microfinance Ltd (MDI). He is 27 years old and has two dependents, whose parents reside in Tonny's former village. Tonny’s primary source of income is riding a motorcycle and transporting people to different destinations. This has enabled him to pay tuition for the two dependents, to pay rent for their house, and to make payment for land.

The purpose for the loan is to settle the outstanding balance on the land purchase (shown in photo). He would like to see the dependents study to the highest level of education attainable. He thinks if they study they will have a better future since his lack of education has forced him into riding a motorcycle, which is a hard way of living. On the land he would like to build a simple residence, thus saving rent money in order to improve his standard of living.


Loan details


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Loan details