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Kitagwenda Rwenzori Sacco Group, Ibanda
In this Group: Vincent, Francis, Zaveria, Julius, John, James, Silver, Stevino, Valerian, Donozio, Gerald, Alex, Jackson, Vincent
Vincent M. is the leader of his group in Ibanda. He is 30 years old and married with three children aged 6, 3 and 1. Vincent has had a retail shop in Kitagwenda trading centre for 11 years and he is grateful for his loans because they have helped him increase the stock in his shop as well as to pay fees for his children. He hopes to educate his children to the highest level of education. This is Vincent’s first loan with the group and he hopes to buy more sugar, salt, soap, cooking oil, and other items all in bulk so that he might be able to make more profit to pay for his children’s education.

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
  • 234
    View loans »
    Uganda Loans Fundraising
  • $29,183,825
    Funds lent in using Kiva
  • 1,915.0
    Uganda Shillings (UGX) = $1 USD

Success!! The loan was 100% repaid

A portion of Kitagwenda Rwenzori Sacco Group, Ibanda's $1,725 loan helped a member to buy sugar, salt, soap, cooking oil and other items for a general store.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 18, 2009
Listed
Dec 21, 2009
Currency Exchange Loss:
Possible
Ended:
May 15, 2010