Magdalena Lwamulungi's Group
Magdalena lives in a rented four-room house where she is staying with two people. Magdalena doesn't take care of any additional family members. There is electricity but no piped water at her home. The family gets three meals a day. She lives and works in a semi-urban area that is in the outskirts of Kampala.
Magdalena operates a retail shop in Nalukolongo. She uses public transport to and from Kampala city where she shops twice a week. She sells to an average of 20 people a day and sells to all categories of people. She works seven days a week. Her major monthly expenses include medication, rent for both accommodation and business, and feeding the family. She has been in this business for the last 20 years. Magdalena has been with MCDT for over five years and this is her 20th loan, all working with the same group mates. She wants to use this loan to buy more merchandise for her shop. Magdalena aspires to see her business grow bigger and to own a permanent business premise and home.
About MCDT SACCOThis loan is administered by MCDT SACCO, a savings and credit institution operating in Kampala, Uganda. The mission of MCDT SACCO is to provide sustainable financial services to the lower strata of Uganda's poor, especially women, for their economic and social development. MCDT's cooperative structure also affords its clients the opportunity to own shares of the organization and benefit from its financial performance. For more on MCDT SACCO, please see our partner page at http://www.kiva.org/partners/112, and join our lending team, Friends of MCDT SACCO, at http://www.kiva.org/team/friends_of_mcdt_sacco.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid