Kisa Kya Mukama Group
Sarah is a single mother with 3 children, all attending school. Since 2004, she has operated a matooke (a variety of cooking banana) business and she also does agriculture as a side business. Sarah works 7 days a week and 15 hours per day. Her clients are the local residents since her capital is quite small. Sarah started the business to get school fees for her children. She has acquired a loan to boost her business (buying additional stock of bananas to resell). She hopes this will increase her profits and income base.
Sarah's hope for the future is to build some rentals for her children. Her business challenge is the poor infrastructure, especially roads, which incurs high costs to transport matooke to the market. Sarah describes herself as a hardworking woman appreciating the work of lenders.
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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