Meet Kyandiru Margret from Uganda; a young woman who beat the odds of her young age and started her own business after completing high school level. Margret has been an astute business woman who has been able to have two different businesses in her a small village. Margret received a loan from MYC4 through Uganda Micro credit Foundation recently. We had a chance to talk to her and this is what she had to say about her life, business and MYC4.
Can you tell us a little about yourself and your business?
I come from a large family of eight children in a small town called Bulenga in Uganda, I’m the fourth born in my family. I started my first business immediately after I cleared my high school education. My parents could not afford to take me to college due to lack of adequate funds. I started a banana selling business which I started in the year 2000, the business was bringing in enough profits considering that bananas is the stable food in Uganda.
How did you hear about MYC4?
I heard about MYC4 in 2013 through Uganda Micro credit loan officer who came to explained to us how it works in one of his many visits to our group. We were very pleased as a group because to be introduced to MYC4.
Which provider are you working with? And why did you choose them?
I’m a client with UMF and they have provided a very good service. I choose UMF because their rates have been great compared to other Micro finances in Uganda I have looked at their products, hence I prefer partnering with UMF.
Did you feel well informed about your loan before you received it?
I would proudly say I was well informed of the stages that the MYC4 loan would take before it would be disbursed to me. The loan was funded much faster than I expected.
What have you used your loan for?
I was in dire need of the loan to stock bananas because it was in high demand in my village. I decided to buy bananas in bulk and store in my kiosk. With the same loan I bought cosmetics for the salon and painted the room hence to attract more customers.
Have the funds you borrowed increased your profits or income, and have you employed anyone?
The funds I borrowed enabled me to gain more profit because I supplied more bananas to my customers because the bananas is in high demand. My salon also got a new face hence attracted more customers which gave me returns.
What do you think about MYC4 in general?
MYC4 is a tool that empower women and men in the society, all my group members are impressed by the services that MYC4 offers especially being able to access the loans online and see how its funding, this has been a great thing.
What do you think of MYC4 compared to other loan products?
MYC4 is good because the process is transparent. Another thing that I loved about MYC4 is that the funds was received much faster than I expected.
Is there anything in the loan process you feel could be improved?
So far I have not noted any issue that I can say I would like to be improved, I’m happy with the MYC4 services.
What are the most important thing people should know about MYC4?
MYC4 is a tool that have helped many women in my society, I have seen MYC4 change the life of the women in my group.
Would you recommend MYC4 to your friends, families? Why?
Yes, and as I speak I have encouraged my neighbor to join our group and take a loan with MYC4. MYC4 payback period is friendly to small business owners one can be able to take a loan and payback without having any problems if your business is doing well.
Would you take a second loan with MYC4?
I plan paying off my loan next year. If my business still is doing well at that time I will apply for another loan with MYC4.
Have you seen your business profile online on MYC4, and can you use it in the future for your creditworthiness?
I have seen my business profile online the loan officer showed me my loan on the platform, and I like it. I believe I will be able to use it again when I take my second loan.
Do you have any other thoughts or comments you would like to add?
MYC4 is a pathway that women should use to better their lives and the society.