Nazigo Group


Status: Paid Back

$2,275.00   Loan Request
$2,275.00   Paid Back

About the Group

Group Name: Nazigo Group
Group Members: Zaidi Senoga
Sulaiman Tamale
Patrick Kirama
Steven Isabirye
Joseph Kalyango
Mohammed Nsereko
Location: Kayunga, Uganda
Activity: Fish Selling

About the Loan

Loan Amount: $2,275.00
Loan Use: He will buy more fish with the loan.
Repayment Term: 6 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Covered
Date Listed: Nov 4, 2008
Date Disbursed: Oct 23, 2008
Date Funded:Nov 12, 2008
Loan Ended:Mar 16, 2009

About the Country

Country:Uganda
Avg Annual Income:$1,700.00
Currency:Uganda Shillings (UGX)
Exchange Rate:1,990.0000 UGX = 1 USD



Zaidi Senoga, 35, is our client at Pearl Microfinance. He has had a business for the past 10 years of buying mukeneu, a small silvery fish, and dried fish from the fishermen at his neighboring landing sites in Nazigo. He is married with 5 children, who are still in school, and he takes care of 1 orphan. He is so proud of the trend that his business is taking after he joined his lending group, whereby he now buys good quality fish in greater numbers compared to before the loans. He is seeking a loan to be able to buy more fish so that he will be able to sell more for greater profits.



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 Nazigo Group


Loan has been disbursed
 
Entrepreneur: Nazigo Group
Location: Kayunga, Uganda

Thank you for your loan. It has been disbursed to the Zaidi Senoga group, consisting of Zaidi Senoga, Sulaiman Tamale, Patrick Kirama, Steven Isabirye, Joseph Kalyango, Mohammed Nsereko by Pearl Microfinance Limited in Uganda. We are excited to watch this business grow. Over the next 3 months, Pearl Microfinance Limited will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.


Posted by from Kayunga, Uganda
Nov 13, 2008
Comments (4)

Journal
 
Entrepreneur: Nazigo Group
Location: Kayunga, Uganda

Zaidi Senoga was able to use his loan to buy more fish for sale and as a result, he was able to get more profits out of his business. In the end, the profits have been helping him in caring for his family as well as buying more fish hence making his business trend continuous. He was able to get another loan from Pearl Microfinance together with his group members and as a result, he has been able to put some money aside for his children’s school fees and general welfare. He has no plan of stopping to get loans very soon.


Posted by Grace Nattoolo from Kayunga, Uganda
May 21, 2009
Comments (1)

Kiva Help Repayment Schedule for Nazigo Group

  Expected Repayments Actual Repayments Comments
January 2009 $606.68 $606.68 Repayment Received
February 2009 $606.68 $606.68 Repayment Received
March 2009 $758.35 $758.35 Repayment Received
April 2009 $303.29 $303.29 Repayment Received