Ddembe Gayaza Group, Mubende
Being part of his culture commonly carried out in western Uganda where people own large heads of cattle, the 34-year-old has benefited a lot from his farming business. He deals in selling cattle; hides and beef are some of the products obtained by his customers from his farming business.
Abu Baker’s motive to acquire this loan is to help him buy sprays for his cattle to kill ticks and also de-worming medicine to treat against diseases that affect his cattle. In addition, he will purchase more cattle for fattening on his farm. This will help him increase production as well as his revenue.
In the future, Abu Baker looks at doing further restocking to have more cows on his farm.
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