Kisenyi United New- Group
Grace has additional income from a bar which is in the same area and which she operates when she is off the fishing business, especially in the evening. She hopes to use the money to buy more fish nets and drinks for her bar so that she is able to catch more fish and serve her customers better and hence make more sales which would result in high profits. Grace’s clients are the residents of Kasenyi cell and Kigabo. Her major challenges are the debts which come as a result of people drinking at her bar and not paying and the thieves who are quite many in the area. Her honesty and hard work have helped her to attain the business success which she is proud of. Despite the success registered so far, she feels she has not yet achieved her dream but is hopeful that the UGAFODE loan of UGX 2,500,000 (two million five hundred thousand shillings) will help her a lot.
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.
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Success!! The loan was 100% repaid