Bwanda Bakyala Kwetungura Group
Boaz’s current business is an inheritance from his father, who is now 90. His father lives with him and has outgrown the age of digging. The son therefore decided to continue with the business to earn income to take care of his family and his aged father, who needs intensive care that suits his old age.
Boaz therefore applied for a group loan with Bwanda Bakyara Kwetungura Group in order to improve his agricultural business to a standard that can match his requirements through mulching and manuring the tomatoes. The main challenge he is facing now is weather; there is a lot of sunshine which necessitates him to water the tomatoes, thus making it more expensive for him to meet his target of being the chief supplier of Rukungiri district by the end of the year.
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.
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