Rwengyiri Tweyambe Group
Allen operates a small bar in the trading centre. Allen also is a farmer and sells agricultural produce on a small scale because of limited capital. She requested for a loan through the group to add to her working capital so as to increase her cash flow. She will use the rest of the money to pay school fees for her children and buy them a few basic needs. Her customers are people around the centre who buy her items especially for home consumption. Her major challenge is competition and inadequate capital to run the business which affect her during her business operations.
Despite all these challenges, Allen is a very hard working woman who is striving hard to provide a good education and a good standard of living for her children. And she thinks with support from her group members, Kiva lenders as well as UGAFODE, her dreams will come true.
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.
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Success!! The loan was 100% repaid