Mukama Yemubeezi Kisunku Group
Update on Mukama Yemubeezi Kisunku GroupTeddy is a married woman with three children. She is twenty five years old. Teddy is a member of Mukama Wemubezi Kisunku group, which has nine members. This is her third loan cycle. She has received a loan of 500,000, 1,000,000 and 1,000,000 UGX respectively.
Teddy is a business woman who deals in a retail shop trading selling daily household use items. She works seven days a week and each day she works for seventeen hours. She has been in this business since 2009. She started this business with the aim of supplementing her husband’s family income. She sells her products to residents in rural setting.
Teddy has acquired this loan so that she can purchase more daily household use items which are usually consumed by her customers. Her hopes are to expand her business to the level of wholesale trading and to set up more outlets on the outskirts of her town.
Teddy’s challenges are delay of payments by customers who took goods on credit and lack of enough capital to finance her business. She describes herself as an honest and hard-working lady and asks lenders to continue extending their services to the local people so that they can develop themselves.
Previous Loan DetailsThe Mukama ye Mubeezi Kisunku Group is located at the outskirts of Kalisizo town and its members are mostly farmers. Group members are Charles, Vincent, Rose, Dinah, Margret, Josephine, Teddy, Rose and Cate. The staff member from Ugafode is the tenth person on the right in this picture. Cate s... More from Mukama Yemubeezi Kisunku Group's previous loan »
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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