Faridah's Bananas And Charcoal Group
Faridah resides and works in a semi-urban area which is on the outskirts of Kampala. Faridah works seven days a week and operates her business from her home. She deals in bananas and charcoal, selling to all categories of people both wholesale and retail.
Faridah sells to an average of 40 people per day. She buys bananas and charcoal from her home and doesn't incur any extra transport costs. Faridah has been in this business for the last ten years. She first dealt in bananas only but with subsequent loans from MCDT, she was able to supplement her income by investing in the charcoal business.
Faridah has been with MCDT for the last six years and is servicing her sixteenth loan, working all this time with her same group. Her major challenge is defaulters in the charcoal business. She wants to use this loan to invest in farm produce and supply it to various nearby schools. She aspires to constructing rental houses in the free space near her home.
About MCDT SACCOThis loan is administered by MCDT SACCO, a savings and credit institution operating in Kampala, Uganda. The mission of MCDT SACCO is to provide sustainable financial services to the lower strata of Uganda's poor, especially women, for their economic and social development. MCDT's cooperative structure also affords its clients the opportunity to own shares of the organization and benefit from its financial performance. For more on MCDT SACCO, please see our partner page at http://www.kiva.org/partners/112, and join our lending team, Friends of MCDT SACCO, at http://www.kiva.org/team/friends_of_mcdt_sacco.
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