Bwizi Fraternity Group, Kyenjojo
He owns a banana plantation and other agricultural farms that include cattle grazing, beans and maize growing, that all generate income for the family. This has seen him earn 160,000 Ugandan shillings a month.
His main drawback has been a lack of funding to purchase more cows for the farm for fattening and manure and mulches for the other agricultural plantations, which has reduced his production and sales revenue. Therefore, this loan will help him improve his yields in terms of agro produce, thus enabling him to meet the customers’ high demand and also increasing his sales revenue, hence making him more able to meet his family's requirements in terms of tuition fees for the children’s needs and live a more self sustaining life.
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