Magezi Buggaga Lending Group
Status: Paid Back
| $2,800.00 | Loan Request | |
|---|---|---|
| $2,800.00 | Paid Back |
About the Group
| Group Name: | Magezi Buggaga Lending Group |
|---|---|
| Group Members: |
Lawrence Kanaabi Zaidi Kazibwe John Opade Peter Onyango Amis Kizito Jane Nassali Lawrence Ssejjaaka |
| Location: | Kisoga, Uganda |
| Activity: | Motorcycle Repair |
About the Loan
| Loan Amount: | $2,800.00 |
|---|---|
| Loan Use: | To buy a tire pumping machine, screwdrivers, and other tools for his motorcycle shop |
| Repayment Term: | 6 months - View details below |
| Lenders Repaid: | Monthly |
| Currency Exchange Loss: | Covered  |
| Date Listed: | Oct 13, 2008 |
| Date Disbursed: | Oct 27, 2008 |
| Date Funded: | Oct 13, 2008 |
| Loan Ended: | Mar 16, 2009 |
About the Field Partner
About the Field Partner
|
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| Field Partner: | Pearl Microfinance Limited |
|---|---|
| Field Partner Risk Rating: | |
| Fundraising Status: | Active |
| Time On Kiva: | 26 months |
| Kiva Entrepreneurs: | 10718 |
| Total Loans: | $2,893,675 |
| 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: | 1,731.9920 UGX = 1 USD |
Lawrence has been a motorcycle mechanic in Kisoga for 7 years, and he has been a member of his lending group, Magezi buggaga, since its inception two years ago. He started getting loans in order to improve his business, and the loans taught him to save. He was able to buy a motorcycle of his own, which he uses a boda-boda (a bicycle or motorcycle taxi) to bring in extra income every day. He also started up a stall where his wife sells fresh produce and greens; this also helps to supply part of their household needs.
Lawrence is seeking for a loan to buy more materials for his workshop, including a tire pumping machine, screwdrivers, and many other tools.
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 Magezi Buggaga Lending Group
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Loan has been disbursed
Location: Kisoga, Uganda
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Posted by
from Kisoga, Uganda
Oct 28, 2008 |
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Comment on this entry
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Journal
Location: Kisoga, Uganda
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Posted by
Grace Nattoolo from Kisoga, Uganda
May 14, 2009 |
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Comment on this entry
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Repayment Schedule for Magezi Buggaga Lending Group
Repayment Schedule for Magezi Buggaga Lending Group
| Expected Repayments | Actual Repayments | Comments | |||
|---|---|---|---|---|---|
| January 2009 | $700.00 | $700.00 |  Repayment Received
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| February 2009 | $700.00 | $700.00 | Repayment Received
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| March 2009 | $700.00 | $700.00 | Repayment Received
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| April 2009 | $700.00 | $700.00 | Repayment Received
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