Bugongi United Savings And Credit Group C-Kihihi
That hard work ethic has enabled him to make significant strides in a business that was once regarded as Uganda's economic backbone. That statement must be put into perspective because there has been a gradual shift away from commercial agriculture as a means of subsistence through the course of the last 30 years in Uganda.
Robert, for the most part, sells bananas. Bananas are a staple food in most parts of western Uganda. Before he obtained a firm footing in this business, Robert was selling mostly coffee, which is also a cash crop of high financial value.
With this loan, Robert says he is going to buy pesticides to get rid of the bugs that have been playing havoc with his banana plantations. Robert says that, in the future, he is looking to expand his banana plantations by buying more acres of land.
Robert belongs to Bugongi United Savings and Credit group-Kihihi.
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