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Rwamugooma Uwesso Grp Group
In this Group: Venansio, Scora, Harriet, John, Pastor, Jenniffer, Alice
Venansio is a married woman with six children. She lives in the village of Ruhinda in the Rukungiri District. She previously borrowed 500,000 UGX from UGAFODE Microfinance Limited (MDI). She used the money to start up a small shop and fence some land for livestock farming.
She has since developed her business until this month when she applied for another loan with the Rwamugoma Uweso Group. She secured a loan of ugx. 1,000,000 with UGAFODE Microfinance Limited (MDI) and was enrolled on the KIVA Programme. She said that the money is going to help her improve her farm and add some stock in the shop and she is grateful to KIVA and UGAFODE for the partnership. She is a hard working woman.

Additional Information

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.

About Uganda

  • $1,500
    Average annual income
  • 100
    View loans »
    Uganda Loans Fundraising
  • $28,253,000
    Funds lent in using Kiva
  • 2,593.0
    Uganda Shillings (UGX) = $1 USD

Success!! The loan was 100% repaid

A portion of Rwamugooma Uwesso Grp Group's $2,475 loan helped a member to hire labourers to plough her farm.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 17, 2013
Listed
Jul 3, 2013
Currency Exchange Loss:
Possible
Ended:
Apr 16, 2014