Tukolerewamu Mixed Group
Lawriano, 48, is an agricultural trader who deals in coffee, maize, beans and ground nuts. He is married and has six children between the ages of 17 and 30. Five children go to school. He works six days a week and eight hours a day. He supplements the agricultural trade with construction as another source of income.
He started his agricultural trade business in 1992 with an ambition of increasing his capital base. He says he will use the loan to buy more agricultural products that he will sell after the prices have increased . His clients come from the neighboring towns.
The major challenges of his business are the numerous debts, price fluctuations, high transport costs and sometimes hash weather conditions. His word to the institution is that they should reduce the charges and reward good clients.
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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