Aida is a thirty-two-year old married woman with four children living in Kasese, Uganda. She is shown in the photo wearing a white t-shirt. She operates a retail shop and also mines salt for a living. The good mother that she is, she wants to educate her children to attain degrees as a minimum qualification and set them up for income generating activities that can secure their future. Lack of capital and bad weather are her challenges while her business goal is to trade on a wholesale basis. She is a member of the abovementioned group where each one guarantees the other in accessing a loan. Aida intends to use the loan facility to buy salt and cassava flour to sell.
More information about this loan
This loan is part of HOFOKAM's program targeting poor and geographically excluded populations in Western Uganda. In addition to loans, it provides social and business training programs to low-income entrepreneurs and their communities. Since 2003, HOFOKAM has provided sustainable financial and non-financial services to promote social, economic and sustainable land development and improve the quality of life for vulnerable populations. The organization has a clear vested interest in underserved communities with its headquarters in rural Fort Portal and a number of branches in extremely remote areas.
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.