Igorora Tutungukye Group
Doreen sells roasted plantain (Gonja) by the road side. Her customers are passengers who stop over to buy something to eat. Her major challenge is harsh weather conditions like sunshine and rain, which disrupt her during her business operations since she has to sit by the road side waiting for her customers.
She runs her business with limited capital of ugx.100,000. She requested a loan of ugx.300,000 to add in her working capital so as to increase her cash flow. She will use the rest of the money to pay tuition for her children and buy them a few basic needs.
Despite all these challenges, Doreen is a very hard-working woman who is striving had to provide a good education and a good standard of living for her children.
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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