Kabungo Women's Group
The father of 4 grows bananas on his farms. Needless to say, bananas are a staple food in most parts of Uganda. This means farmers like Nelson are doing a roaring trade selling their bananas to food traders who come all the way from the nation's capital, Kampala. He is based in Ntungamo. For most families in Ntungamo and other parts of Western Uganda, farming is a legacy. Most families have been able to contribute to their welfare with earnings from farming.
Notwithstanding the successes, there have been quite a few impediments which have clouded the success of some farmers. Nelson says at times he is hard-pressed at times to get enough finances to purchase better and higher-grade manure. He also says some seasons are particularly difficult as pests destroy his banana crop. However, he has remained philosophical in the face of all adversity which explains his longevity over the past decade. His second line of business is the sale of livestock. He says this business generates close to 200,000 Uganda shillings in weekly sales income for him. He says he intends to utilize this Kiva loan to purchase high-grade manure and pesticides, and to pay fees for his kids.
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