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Modern Modern Group
In this Group: Elizabeth, Lawrence, Agnes, Hellen , Godfrey
The Modern Modern Group is located in the outskirts of Ibanda Town. One of its members, Hellen, is a single mother who lost her husband in a fire accident in 2010. She was left with five children and she also takes care of her sister's two daughters who were abandoned by their mother. Hellen runs a small drug shop with small capital. Besides that, she also has a small poultry farm where she gets income to boost her drug shop business. She applied for a loan of 600,000 Ugandan shillings so as to buy poultry feed for her chickens and she plans to use the rest of the money to pay school fees for her children and provide the basic needs in life.
Her major challenges are insufficient capital to boost her business, thieves who steal her chicken, and diseases which affect her cash flow. Despite all of these challenges, Hellen has been able to provide a good education and basic needs for her children.

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

  • $1,800
    Average annual income
  • 288
    View loans »
    Uganda Loans Fundraising
  • $30,664,300
    Funds lent in using Kiva
  • 2,574.0
    Uganda Shillings (UGX) = $1 USD

Success!! The loan was 100% repaid

A portion of Modern Modern Group's $1,300 loan helped a member to buy poultry feed for her chickens.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 13, 2013
Listed
Oct 6, 2013
Currency Exchange Loss:
Possible
Ended:
Apr 16, 2014