John is a 42-year-old married man with three school-going children living in Kyenjojo, Uganda. John carries out agriculture as well as operating a stall in the market, where he sells agricultural produce, including bananas, tomatoes, cabbages and onions. He accumulated capital from farming since he is a very hard-working man and started a business of selling produce to help him look after his family and pay school fees for his children. He is very trusted by his group members, who offer each other guarantorship to access loans. Seasonal weather changes and price fluctuations are John's major challenges while his dream is to own a food store that can sustainably supply his customers year-round. John intends to use this loan to buy produce such as bananas and onions to sell.
More information about this loan
This loan is part of HOFOKAM's program targeting poor and geographically excluded populations in Western Uganda. In addition to loans, it provides social and business training programs to low-income entrepreneurs and their communities. Since 2003, HOFOKAM has provided sustainable financial and non-financial services to promote social, economic and sustainable land development and improve the quality of life for vulnerable populations. The organization has a clear vested interest in underserved communities with its headquarters in rural Fort Portal and a number of branches in extremely remote areas.
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.