A 50 year old woman excels in setting up a lucrative supermarket and renovates her hostel with the help of a loan from EFC Uganda. Despite the fears people develop over acquiring loans, the trend is quite opposite in this entrepreneurial lady’s perspective.
Deborah Kyomuhangi a resident of Banda a Kampala suburb owns and runs her own supermarket and hostel business which she has grown with the help of credit from EFC Uganda Limited (MDI).
Since receiving her first loan of Uganda shillings 45 million from EFC Uganda in 2015, Deborah was able to extend her hostel business one floor up (from the second to the third floor) where she provides decent but affordable accommodation to Kyambogo University Students.
Deborah later got an additional Uganda shillings 15 million which she invested in her supermarket. The business grew to a mid-sized supermarket employing three young ladies. She has plans of acquiring more credit to expand the supermarket floor to include more isles to meet the growing demand.
She says that EFC helped her to access the capital she needed to grow her business. She is now able to buy her stocks in bulk, for example: sugar, oil, and bags of rice and other merchandise. She also commends the EFC Legal team for having helped her to secure her land title which they put in her original names since there was some error with her name on the same title.
“I was surprised when EFC decided to have faith in me. It was the first time I was managing such big loan, but thanks to the support of my Relationship Officer I handled it well.” Says Deborah
As a thank-you, EFC Uganda recently awarded Deborah a gift hamper during the EFC Green Love campaign in February in recognition of her support.