Kyatoko Tutungure Group
Brian is one of the members of Kyatoko – Tutungure Group, and he has been able to sustain his family through the sale of his agricultural and farm products.
Brian is requesting this loan through UGAFODE Microfinance Limited (MDI) to buy more organic fertilizers for his plantations of tomatoes and plantain, which will in turn help him to improve and expand his agricultural enterprise. If he succeeds, he will be able to save money for his family and future investments.
He also urges UGAFODE Microfinance Limited (MDI) to reduce the interest rate and increase the initial loan amount of the first cycle of group borrowers.
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.
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Success!! The loan was 100% repaid