Aggrey Kasango


Status: Refunded

$800.00   Loan Request

About the Entrepreneur

Name: Aggrey Kasango
Location: Mbale, Uganda
Activity: Food Production/Sales

About the Loan

Loan Amount: $800.00
Loan Use: To improve on stock.
Repayment Term: 11 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: N/A
Date Listed: Nov 4, 2006
Date Disbursed: Nov 19, 2006
Date Funded:Nov 5, 2006
Refund Date:Aug 22, 2007

About the Country

Country:Uganda
Avg Annual Income:$1,700.00
Currency:United States Dollars (USD)



Aggrey is a married man with three children. For the last seven years, he has dealt with buying and seling produce such as Maize, Millet, Sorghum, Groundnuts, Dry Cassava, Simsim, and Peace.



He has been operating this business at a small scale that doesn’t fetch him enough profit to allow him to expand it. He therefore request a loan in the amount of $800 to enable him to buy those items in bulk and raise enough profit.



He plans to expand his business to a level of hiring a truck to take his produce to town and work directly with the wholesalers which will cut the middle man out and allow him to deliver produce directly to the Consumers in town.



We appreciate your support for this business.







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Journal entries for Aggrey Kasango


Loan Money received.
 
Entrepreneur: Aggrey Kasango
Location: Mbale, Uganda

Aggrey received loan money worth $800 to improve on his business.

He has already put the money into the business.

Thanks alot for supporting this man.


Posted by Janet Alupot from Mbale, Uganda
Nov 14, 2006
Comments (8)

Loan Refunded
 
Entrepreneur: Aggrey Kasango
Location: Mbale, Uganda

This loan has been refunded for the following reason:

As you may be aware, each business on Kiva's website is posted by one of Kiva's 60+ Field Partners in 39 developing countries. A Field Partner is an independent microfinance institution that has a history of lending to the poor for a social purpose. They screen each entrepreneur, post his/her profile on the Kiva website, and administer your loan.

Kiva routinely audits each Field Partner to ensure your loan is being dutifully administered to the entrepreneur you've selected. In the course of auditing our Field Partner, Women's Initiative to Eradicate Poverty (WITEP) in Uganda, Kiva discovered that some entrepreneurs were not receiving the full amount of their loans.

This violates Kiva's policies and we have terminated our relationship with WITEP. All of the loans made to entrepreneurs served by this Field Partner have been refunded. We hope you realize that our audit uncovered a true exception to the norm; the vast majority of our Field Partners administer your loans with the highest integrity. Kiva will continue to audit Field Partners to ensure your loan is being dutifully administered and to make our website a model for transparency in international development.

To help inform your choice of Field Partner as well as entrepreneur, we have launched a new feature on the site which helps you evaluate the Field Partner's performance in your lending decision. See www.kiva.org/about/partners/ for details.

We hope that you give lending to the working poor another chance by re-lending your Kiva Credit to a new entrepreneur on our site.


Posted by Kiva Staff from Mbale, Uganda
Aug 22, 2007
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Kiva Help Repayment Schedule for Aggrey Kasango

  Expected Repayments Actual Repayments Comments
February 2007 $88.89 $80.00 Repayment Received
March 2007 $88.89 $20.00 Repayment Received
April 2007 $88.89 $0.00 Repayment Received
May 2007 $88.89 $0.00 Repayment Received
June 2007 $88.89 $0.00 Repayment Received
July 2007 $88.89 $0.00 Repayment Received
August 2007 $88.89 $0.00 Repayment Received
September 2007 $88.89 $0.00 Repayment Received
October 2007 $88.88 $0.00 Repayment Received