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Fred's Group
In this Group: Fred, Mastula, Edisa, Betty, Jane, Margaret, Florence, Prossy, Joy, Harriet, Zakiya
S. Fred is a hardworking and determined businessman. He has been involved in the sale of metal crafts and shutters from Lugolole town for twelve years and he is happy that it enables him earn 40,000/= in profit. He buys metal scraps from which he makes the metal crafts and his goal is to become a big supplier of the metal materials for his children’s better future.

Fred is a married man with six children aged 28 to 2 years and he also cares for an orphan.

This is Fred’s second loan with Pearl Microfinance and he hopes to buy more metal materials to help in his business since this brings in more capital and more profits.

The man standing in the photo is Richard, the Credit officer in charge of the group.

Additional Information

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.

About Uganda

  • $1,500
    Average annual income
  • 360
    View loans »
    Uganda Loans Fundraising
  • $29,766,150
    Funds lent in using Kiva
  • 1,960.8
    Uganda Shillings (UGX) = $1 USD

Success!! The loan was 100% repaid

A portion of Fred's Group's $1,550 loan helped a member to buy more metal materials to increase his stock.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 7, 2009
Listed
Sep 14, 2009
Currency Exchange Loss:
Possible
Ended:
Feb 15, 2010