Victor is a 42-year-old farmer and the father of six children. He trades in timber and keeps goats, sheep, and pigs in addition to tending to plantations of plantain and sorghum. Victor's wife does odd jobs such as gardening in people’s gardens for small wages and taking care of people's business while they are away from the community. His business challenges include the expense of cutting timber and banana bacteria wilt that has harmed his crop. Victor decided to join UGAFODE microfinance limited (MDI), Rukungiri Branch, to get more money to inject in his tree processing business and his plantations which were once abandoned due to bacteria wilt.
Victor is the leader of the Ibanda United Group located in Nyarushanje, Rukungiri District, Uganda. He is requesting a loan to buy organic manure to improve the quality of his farm, boost his income, and have a sustainable business. Victor will use the profit from his loan to uplift his family's income, provide necessary basic needs, pay for his children's tuition fees, and look after his wife.
The four other farmers in the photo are: Jackline, a farmer who also owns a retail shop; Jessy, a farmer who is also a builder; Vereriano, a farmer and a businessman; and lastly, Georgiana, a farmer who grows sorghum and banana.
More information about this loan
This loan is part of UGAFODE's green loan program, giving Ugandan farmers the support they need to grow and process organic fruits and vegetables. Funds will be used to obtain critical resources like processing equipment, mulch and organic seedlings to reduce waste water contamination and improve consumer health. The green loan program also helps clients combat regional problems like deforestation and over-fishing.
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.