Tufeyo Karengo Group
She started trading in goats to be able meet her family's needs and also to pay school fees for her children. She is mainly challenged by price fluctuations. Her dream is to buy a lorry that she will be using to ferry the goats to town for sale. She also wishes the institution will be able to reduce the interest rates.
Melab is hard working and honest. She is the lady seated in the group photo. One of the members was missing in the photograph. She signed the waiver though, and the 11 members present constitute over 80% of the group.
More information about this loan
This loan is part of UGAFODE's program for clients who live in isolated rural areas with limited access to financial services. Uniquely, UGAFODE focuses its efforts on agricultural areas in Uganda that are over 50 km from their branches, providing loans to both groups and individual borrowers. The organization believes that the risk of offering services to remote clients is outweighed by the benefits to customers and their often underserved communities.
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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