Joan is 42 years and female. She is acquiring a loan of 800,000 UGX in a group of 10 members with a total loan amount of UGX 5,700,000. She is widowed with two children (one at school and one dependent who is an orphan). Her businesses are trading in bitengye and second hand shoes and tailoring. She works for eight hours in each of the seven days of the week. She also gets money from her coffee plantation. Her business is located in Ishaka–Bushenyi municipality. She started the business to earn a living and take care of her family since she is the only breadwinner at home. She is going to buy coffee husks to decompose and put into her coffee and banana plantation. She will use the proceeds for school fees. Joan’s clients are people around town and at the market since she always stages her business sometimes along the highway. She hopes that if her child finishes studies, she will be able to grow her business and be in a position to at least construct a shelter for herself and her family, which has always been a challenge in her life. She faces competition from many other business people with enough capital to inject in their businesses. She is a hardworking person committed to her business. She has always prayed for reduced interest, which has been done, and she now hopes that it's reduced further.
More information about this loan
This loan is part of UGAFODE's green loan program, giving Ugandan farmers the support they need to grow and process organic fruits and vegetables. Funds will be used to obtain critical resources like processing equipment, mulch and organic seedlings to reduce waste water contamination and improve consumer health. The green loan program also helps clients combat regional problems like deforestation and over-fishing.
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.