Suubi Savings And Development Group
Ten years has been a time frame long enough for him to make his deductions on how to survive and weather the unpredictable storms such business come with. He has also learned to be philosophical in the face of financial and other operational adversity that plagues businesses. In many respects, this has been of paramount importance in his business operations as he has learned to strike a balance.
Many of his clients are truck drivers who are being caught up in the construction boom that is pervading Mukono and its surrounding environs. By all accounts, Idd makes strong and durable bricks. He has built a good rapport with many of his clients. The strong and durable bricks are liked by many of his clients, who in turn prevail upon other people around Mukono to purchase durable and sturdy bricks from him.
As he casts his mind to the future, Idd knows the prospects for the future success of his business are good. Idd is also formerly employed as a teacher. Teaching is a profession he holds dear to his heart. Monthly, he says his business sales profit amounts to Uganda shillings 380,000, and he says with this loan, he is going to purchase a modern brick-making machine.
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