One By One Women Group
She started up a piggery project after she had retired from teaching and she has run it for over six years now. She is a new client to Ugafode Microfinance and has borrowed a loan of 400,000 UGX. The purpose of the loan is to acquire more pigs and also to buy feed for them.
The challenges she has in her piggery business is weather and also price fluctuation, whereby during the rainy seasons it becomes hard for her to clean the sty, which may in turn breed diseases leading to the death of the pigs. She also has a pricing challenge from time to time.
Her dream is to enlarge her piggery in order to get more income from the pigs. She is a hard working and resilient woman
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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Success!! The loan was 100% repaid