Musa Gigimi's Group
Status: Paying Back
| $3,750.00 | Loan Amount |
|---|
62% repaid
About the Group
| Group Name: | Musa Gigimi's Group |
|---|---|
| Group Members: |
Musa Gigimi Bernard Nangoli Robert Sekabeja Bernard Baligaine Sarah Igulu Rashid Mbabazi Samuel Gimei Kigenyi Nansubuga Musa Muwangulas David Kigenyi Harriet Nakimwero (not pictured) |
| Location: | Kangulumira, Uganda |
| Activity: | Clothing Sales |
About the Loan
| Loan Amount: | $3,750.00 |
|---|---|
| Loan Use: | To buy new clothing materials for his business |
| Repayment Term: | 6 months - View details below |
| Lenders Repaid: | Monthly |
| Currency Exchange Loss: | Possible  |
| Date Listed: | Aug 25, 2009 |
| Date Disbursed: | Aug 14, 2009 |
| Date Funded: | Aug 27, 2009 |
About the Field Partner
About the Field Partner
|
|
| Field Partner: | Pearl Microfinance Limited |
|---|---|
| Field Partner Risk Rating: | |
| Fundraising Status: | Active |
| Time On Kiva: | 26 months |
| Kiva Entrepreneurs: | 10683 |
| Total Loans: | $2,885,625 |
| Delinquency Rate: | 0.00% |
| Default Rate: | 0.00% |
| Currency Exchange Loss Rate: | 0.00% |
| More on this field partner >> | |
About the Country
| Country: | Uganda |
|---|---|
| Avg Annual Income: | $1,700.00 |
| Currency: | Uganda Shillings (UGX) |
| Exchange Rate: | 2,075.0000 UGX = 1 USD |
Gigimi Musa is the leader of his lending group in Kayunga and is married with six children aged 16 – 2 years. He has had a business tailoring and selling clothes in Kavule for twenty-nine years. He deals in finished (ready-made clothes) and unfinished clothes (those he makes himself), and in a week, he is able to make 40,000/= as profits.
Musa has a business policy of having customer-friendly prices so that he will be able to sell more. His plan is to turn his business into a tailoring school and improve on the quality of his family life by educating his children and training them in his trade.
Musa needs a loan to be able to buy new materials for the business so as to boost the business more. He is a hard working and friendly man and this has brought him reliable customers.
About Group Loans
In a group loan, each member of the group receives an individual loan but is part of a group of individuals bound by a group guarantee. Under this arrangement, each member of the group supports one another and is responsible for paying back the loans of their fellow group members if someone is delinquent or defaults. Learn more
Musa has a business policy of having customer-friendly prices so that he will be able to sell more. His plan is to turn his business into a tailoring school and improve on the quality of his family life by educating his children and training them in his trade.
Musa needs a loan to be able to buy new materials for the business so as to boost the business more. He is a hard working and friendly man and this has brought him reliable customers.
About Group Loans
In a group loan, each member of the group receives an individual loan but is part of a group of individuals bound by a group guarantee. Under this arrangement, each member of the group supports one another and is responsible for paying back the loans of their fellow group members if someone is delinquent or defaults. Learn more
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Journal entries for Musa Gigimi's Group
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Loan has been disbursed
Location: Kangulumira, Uganda
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Posted by
from Kangulumira, Uganda
Aug 28, 2009 |
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Comment on this entry
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Repayment Schedule for Musa Gigimi's Group
Repayment Schedule for Musa Gigimi's Group
| Expected Repayments | Actual Repayments | Comments | |||
|---|---|---|---|---|---|
| October 2009 | $234.38 | $234.38 |  Repayment Received
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| November 2009 | $937.50 | $937.50 | Repayment Received
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| December 2009 | $1,171.87 | $1,171.87 | Repayment Received
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| January 2010 | $937.50 | Available Jan 1 | |||
| February 2010 | $468.75 | Available Feb 1 | |||
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