Kalerwe Ttula Tda- Farouk Group
He started by driving other people's taxis, but now wants to buy his own taxi, and with his experience, he is sure it will be very rewarding. He therefore joined Kalerwe Tula Taxi Drivers Group so as to access a loan of 1,000,000 Uganda Shillings from Ugafode Microfinance to top up and buy a taxi. He believes his profits will increase, and he will adequately meet his family's needs.
With hard work, he believes he will soon be able to have a stable income, put up some rentals and have his children’s education needs catered for. He thanks the lenders for their great contribution in uplifting them.
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