Kyabasenja Kweterana Group
Charles operates a primary school and has been doing this since 2012 to earn a living and develop the community.
Charles has approached UGAFODE for a loan of UGX 600,000 in order to construct another classroom block and hopes to pay back the loan well using proceeds from the school.
Charles has a dream of developing his school to be one the leading schools in the Kibaale district.
He has challenges of poor pupils who cannot afford school fees, and inadequate facilities. He is hopeful that the school will develop if he continues to get financial assistance from Kiva lenders through UGAFODE.
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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Success!! The loan was 100% repaid