Ryakatiri Twetungure Group
She runs a small retail shop with the meager working capital of UGX 300,000 where she earns income to look after the family. Besides that, she also has a piggery project where she earns additional income to support her family. She has applied for a loan of 600,000 UGX to buy building materials like timber and cement to construct an improved sty for her pigs. She will use the balance to add more stock to her retail shop. Her customers are neighbors and a few outsiders. Her major challenge is diseases. Grace is a very hardworking and honest woman.
More information about this loan
This loan is part of UGAFODE”s Micro Mortgage Loan program. Many of these clients are currently renting and these loans allow them to own their home and provide for their families. This may be their first home, or renovation to homes not fit for habitation. By building and renovating, borrowers who utilize these loans have improved health and safety through a stronger structure and better protection from the elements. UGAFODE offers these loans to cover essential costs like labour and material so borrowers can provide adequate shelter and sanitation facilities for their families.
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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