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Koranorya Tweyombekye Group
In this Group: Rosette, Mary Grace, Vicky, Landas, Lovas, Dickson
Dickson is a resident of Koranorya, a suburb of Mbarara Municipality. He is aged 34 years. He did not go far in education, so he started up a small business dealing in second-hand clothes. He used the profits of the business for his own subsistence, and also to take care of his siblings. This business grew and helped him to sustain his father’s family and support education for his younger brothers.

He later obtained a loan of UGX 400,000 from UGAFODE, which helped him to prosper. That success motivated him to mobilize his colleagues to form this group, called Koranorya Tweyombekye, a development group. This group has succeeded in other development projects. Now, they are requesting a loan of UGX 3,400,000, to help them increase their working capital for their respective businesses. They are hardworking people and are pledging to maintain the partnership. Dickson will specifically buy a bale of used clothing, if the group is given the loan.

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
  • 358
    View loans »
    Uganda Loans Fundraising
  • $30,352,075
    Funds lent in using Kiva
  • 2,590.0
    Uganda Shillings (UGX) = $1 USD

Success!! The loan was 100% repaid

A portion of Koranorya Tweyombekye Group's $1,325 loan helped a member to buy a bale of used clothing to sell.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 22, 2013
Listed
Aug 27, 2013
Currency Exchange Loss:
Possible
Ended:
Nov 17, 2014