Kitimbwa Mixed Group

Status: Paid Back

$3,950.00		Loan Request
$3,950.00		Paid Back

About the Group

Group Name:	Kitimbwa Mixed Group
Group Members:	Jesca Namulondo John Kawooya Musa Byansi Noah Kimatta Annet Namusisi Vincent Lwanga Magidu Semakula Harriet Dudu Catherine Namukasa Rose Nakato
Location:	Kitimbwa, Uganda
Activity:	General Store

About the Loan

Loan Amount:	$3,950.00
Loan Use:	Rose is asking for a loan to help her buy a fridge, soft drinks, sugar, salt, cooking oil, and baking powder in large quantities for her shop.
Repayment Term:	7 months - View details below
Lenders Repaid:	Monthly
Currency Exchange Loss:	Covered
Date Listed:	Sep 1, 2008
Date Disbursed:	Sep 15, 2008
Date Funded:	Sep 1, 2008
Loan Ended:	Feb 15, 2009

About the Field Partner

Field Partner:

Pearl Microfinance Limited

Field Partner Risk Rating:

(Learn more)

Active

26 months

10718

$2,893,675

0.00%

0.00%

Currency Exchange Loss Rate:

0.00%

About the Country

Country:	Uganda
Avg Annual Income:	$1,700.00
Currency:	Uganda Shillings (UGX)
Exchange Rate:	1,627.0000 UGX = 1 USD

Rose Nakato is the chairperson of the Kitimbwa mixed group. She is married with 7 children and looks after 2 kids that belong to her siblings. Over the past few months, Rose has been able to improve her retail shop, as well as starting to farm. Now things seem to be going well, except that in her shop she lacks a fridge for selling cold drinks, and she needs to restock her shop with more products like sugar, salt, cooking oil, baking powder, and soft drinks so that by the end of the holiday season, she has saved enough to take care of her children's school fees and home care.

Rose does not regret being the leader of her group because this has taught her many leadership skills that she lacked before. She says that farming takes a long time to bring in revenue, but when the time is ripe, she is all smiles. Look at the baby that Rose had when she took her first loan in October 2007: he is really grown up and stubborn because she is able to care for her baby and the rest of her children with profits from the loans. She is asking for a loan to help her buy a fridge, soft drinks, sugar, salt, cooking oil, and baking powder in large quantities to prevent her from over-spending on transport costs.

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 Kitimbwa Mixed Group

Loan has been disbursed Entrepreneur: Kitimbwa Mixed Group Location: Kitimbwa, Uganda Thank you for your loan. It has been disbursed to the Kitimbwa Mixed Group group, consisting of Rose Nakato, Catherine Namukasa, Harriet Dudu, Magidu Semakula, Vincent Lwanga, Annet Namusisi, Noah Kimatta, Musa Byansi, John Kawooya, Jesca Namulondo by Pearl Microfinance Limited in Uganda. We are excited to watch this business grow. Over the next 4 months, Pearl Microfinance Limited will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.
Posted by from Kitimbwa, Uganda Sep 16, 2008
Comments (1)

Journal Entrepreneur: Kitimbwa Mixed Group Location: Kitimbwa, Uganda Nakato Rose is a proud owner of one of the many retail shops in Kitimbwa, Kayunga. She manages her shop with the help of her husband and children at times when they are back from school and each one of them has learnt the value of money with no careless expenditures. With her share of the loan, Rose was able to buy another fridge to supplement her existing sales, increased the quantity of the products to be sold in her shop and since it was the rainy season, she had to do some bush clearances, did some cultivations and planted maize and beans by employing man power for quick work.
Posted by Grace Nattoolo from Kitimbwa, Uganda Jan 16, 2009
Comment on this entry

Repayment Schedule for Kitimbwa Mixed Group

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	Expected Repayments	Actual Repayments	Comments
December 2008	$987.50	$988.00	Repayment Received
January 2009	$987.50	$987.00	Repayment Received
February 2009	$987.50	$987.50	Repayment Received
March 2009	$987.50	$987.50	Repayment Received