Kyabugimbi Abamwe Traders Group
Her business was started in 2006 to help her earn a living and also meet the basic needs of the family after the father of her children passed on. This situation left the family in a miserable state since the widow did not have any income to survive on. She also gets some additional income from the factory where she has a part-time job.
Loyce’s clients are people in the trading centre. She hopes to build a house for the family in the near future; that is why she works tirelessly so that she can leave where she stays with the family in a rented room. She is committed and hardworking and she thanks Ugafode Microfinance for the financial support given.
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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