Resty Kayondo's Group
The family gets 3 meals a day. She resides and works in a semi-urban area that is on the outskirts of Kampala. Resty sells newspapers and operates a public pay phone in Bwaise, one of the city suburbs. She sells to an average of 50 people a day and works 6 days a week. Resty's major monthly expenses include rent for the business premises and medication. Resty bicycles to and from work. She has been in this business for 10 years.
Resty's main challenges include the rainy season, which disturbs her a lot, and overcomes it by using umbrellas. Resty has been with MCDT for over 5 years and is servicing her eighth loan, working all this long time with the same group mates. She wants to use this loan to increase stock in her business and acquire more telephone booths.
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