John is a 30-year-old man and a resident of Wandegeya. He is married with two children of whom neither is a student. He is a first-time borrower with UGAFODE Micro-finance and applied for 500,000 UGX in order to grow his charcoal business. However, he has other businesses where he gets more income and that is from rent and his motorcycle that he uses to transport people. He is a hardworking man and he looks forward to seeing his family succeed .He wishes to build a nice home for his family.
John hopes to borrow more money from UGAFODE in order to buy a plot of land and build a home for his mother. His major challenge is the weather which affects him so much .During rainy seasons the roads are very slippery and vehicles take a long time to deliver the charcoal to the town for sale. It is also a time when prices are very competitive. He looks forward to getting another a loan from UGAFODE Microfinance if all goes according to plan.
The loan officer is in the photograph with the clients.
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.