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Kanyanku Ugafode Group
In this Group: Lydia, Vincent, Gereva, Joram, Julius
Kanyanku Ugafode group is located on the outskirts of Rukungiri Town. The group members are basically involved in agriculture with a few that deal in small scale retail shops, goat trade, salon care and restaurants.

Lydia is a married woman and a mother of three. Her main business is a beauty salon but she supplements with income from farming. She has only one child who goes to school since the other one is still young. She does all this with the support of her husband who encouraged her to start the salon business in 1999. Her main clients are basically women from around Rukungiri town. Lydia is determined to use the loan acquired from Kiva partner UGAFODE Microfinance Limited (MDI) to change her life and for her family by investing it in her salon business. She has secured a loan of ugx. 800,000 through the group in order to buy better driers and cosmetics to improve the quality of her services.

Additional Information

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.

Tags

About Uganda

  • $1,500
    Average annual income
  • 319
    View loans »
    Uganda Loans Fundraising
  • $29,710,775
    Funds lent in using Kiva
  • 2,533.0
    Uganda Shillings (UGX) = $1 USD
Expired
A portion of Kanyanku Ugafode Group's $1,525 loan helped a member to buy a drier and cosmetics for the salon.
Repayment Term
12 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 16, 2013
Listed
Sep 30, 2013
Currency Exchange Loss:
Possible
Expired:
Oct 30, 2013