Abdu Katamba's Group


Status: Paying Back

$2,300.00   Loan Amount
6% repaid

About the Group

Group Name: Abdu Katamba's Group
Group Members: Abdu Katamba
Fatuma Nakibuuka
Teo Konde
Moses Wanyama
Ronald Kasirye
Ruth Samanya
Location: Lugazi, Uganda
Activity: Bakery

About the Loan

Loan Amount: $2,300.00
Loan Use: Purchase more baking supplies to increase output
Repayment Term: 6 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Possible
Date Listed: Oct 19, 2009
Date Disbursed: Oct 13, 2009
Date Funded:Oct 20, 2009

About the Country

Country:Uganda
Avg Annual Income:$1,700.00
Currency:Uganda Shillings (UGX)
Exchange Rate:1,890.0000 UGX = 1 USD



Abdu is the leader of his lending group in Lugazi. He is 38 years old and married with four children between the ages of 3 and 15 years old. He also cares for six dependents. Abdu has been a bread vendor in Lugazi for eight years and his business has been mostly affected by the changing seasons as well as bad debts. Amidst all this, Abdu makes 150,000/= a week and this helps him pay school fees for his children and dependents, as well as save for future developments. He ensures that he makes and sells quality bread and this increases his sales.

Abdu has a dream of expanding his bakery so he can make more bread per day, plus cakes for increased income. He also vies to educate his children to the highest level of learning for self sustainability in the future. At the moment, Abdu needs a loan to help purchase more baking supplies to increase output.



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 Abdu Katamba's Group


Loan has been disbursed
 
Entrepreneur: Abdu Katamba's Group
Location: Lugazi, Uganda

Thank you for your loan. It has been disbursed to Abdu Katamba's Group, consisting of Abdu Katamba, Fatuma Nakibuuka, Teo Konde, Moses Wanyama, Ronald Kasirye, Ruth Samanya by Pearl Microfinance Limited in Uganda. We are excited to watch this business grow. Over the 3 months of this loan, Pearl Microfinance Limited will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.


Posted by from Lugazi, Uganda
Oct 21, 2009
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Kiva Help Repayment Schedule for Abdu Katamba's Group

  Expected Repayments Actual Repayments Comments
December 2009 $153.33 $153.33 Repayment Received
January 2010 $613.34 Available Jan 1  
February 2010 $766.66 Available Feb 1  
March 2010 $613.34 Available Mar 1  
April 2010 $153.33 Available Apr 1