Kacerere Women's Group B
Agriculture has been Uganda's economic backbone since the early sixties and for many Ugandans it is their premier source of livelihood. Catherine, who is happily married with 6 kids, says she has no regrets as to why she decided to bear a hand in this business venture. By and large, she says the business where she mostly grows and sells bananas and cassava has been profitable.Through the 15 years, she has learnt a lot about how to cultivate and harvest high-grade bananas and cassava.
She has also learnt the best methods of manure application to ensure better yields. Her business, which began with the persuasion of a close friend, has grown beyond her expectations. But, she says, it has not come easy as she has had to work extremely hard in her farming gardens to ensure this comes to pass. Monthly, she says, this business generates shillings 1,600,000 in profit.
Catherine says she is going to use this Kiva loan money to buy more land to expand her agricultural business.
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