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Kayembe Group
In this Group: Allen , Charles , Ambrose , Unith , Jovanis, Fidel, Sarah, Paskazia, Florence , Patience, John*, Venosta
* not pictured
Venosta is a 25-year-old man who is married with one child and lives in the outskirts of Rukungiri Town. He operates a shoe selling business along a busy street in Rukungiri Town. He started his business in the year 2011 with a small capital of less than UGX 200,000 and his business has now grown to capital of up to UGX 3,000,000. His major clients are local residents of the area and those from nearby villages that come to Rukungiri to shop. He wants a loan which he will use to buy more shoes to add to his stock. He expects the business to boom during the Christmas season. His major challenge was operating from the beginning with little capital. However, he is now grateful to UGAFODE Microfinance Limited (MDI) and the Kiva lenders for lending him more money to add to his business.

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
  • 305
    View loans »
    Uganda Loans Fundraising
  • $29,633,250
    Funds lent in using Kiva
  • 2,537.0
    Uganda Shillings (UGX) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A portion of Kayembe Group's $2,650 loan helped a member to buy shoes to sell to customers.
99% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 12, 2013
Listed
Nov 28, 2013
Currency Exchange Loss:
Possible
Ended:
Feb 20, 2015