Mama Women's Group
Fish sells well on the markets in Lugazi, and provided one has enough in reserve, one is likely to do good business.
Sarah's business has been boosted by the fact that Lugazi is in close proximity to the shores of Lake Victoria, which supplies most of the fish people consume in Uganda. She therefore does not have to move far to purchase the fish she sells. In most cases, she purchases the fish she sells from fishermen who bring their catch to Lugazi town.
Her biggest challenge has been the fact that she has to sell her fish while moving. This, she says, has stifled the growth of her business as some of her clients are not easily accessible. She has to spend money every day to reach some of them and some of these clients reside in far off places. This, needless to say, has played havoc with the consolidation of her finances.
She says this business's gross profits total up to UGX 50,000 weekly.
Sarah says this Kiva loan is to help her construct a permanent stall from which she can sell her fish.
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