Veronica Owembabazi ’S Group
The community she lives in is semi-urban. One of her challenges is the ever-increasing house rent fees due to the influx of Sudanese war migrants. Veronica deems this as a challenge because she may be thrown out of the house if she fails to pay what these migrants can offer the landlords.
She has recently taken a loan of Shillings 500,000/= (US$ 310) .She used the loan to increase her stock and pay rent for three months. She is able to meet the family's basic needs out of the profits she makes from her business.
She is able to send her children to school, fend for her family better, and has learnt to be hard-working because of MCDT loans. She has managed to make herself a metal kiosk, thus reducing the hazards of the weather. There is a ready market for her merchandise.
One of her plans is to make this kiosk bigger to create space for a refrigerator so that she can pack ready-to-eat fruits and fruit juice for sale. She would like to buy a plot of land and build a house.
She has successfully paid back 8 loans.
About MCDT SACCOThis loan is administered by MCDT SACCO, a savings and credit institution operating in Kampala, Uganda. The mission of MCDT SACCO is to provide sustainable financial services to the lower strata of Uganda's poor, especially women, for their economic and social development. MCDT's cooperative structure also affords its clients the opportunity to own shares of the organization and benefit from its financial performance. For more on MCDT SACCO, please see our partner page at http://www.kiva.org/partners/112, and join our lending team, Friends of MCDT SACCO, at http://www.kiva.org/team/friends_of_mcdt_sacco.
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