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Lutengo Development Group
In this Group: Karid, Sylivester, Moses, Simon, Moses, Frank, Isa, David, Ayub
Karid S. is a client of Pearl Microfinance and a proud member of the Lutengo Group in Lugazi. He is married with 4 children and has a motorcycle "boda boda" business that he has owned for 5 years.



He joined his lending group with a bid to develop his business and so far, he was able to buy a new "boda boda" to replace the old one that he had.



His family life has changed with the increased profits and now his children go to school with some ease as regards school fees. Karid needs a loan to be able to buy another "boda boda" to be given out for hire so as to bring in more income every day.

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.

About Uganda

  • $1,500
    Average annual income
  • 274
    View loans »
    Uganda Loans Fundraising
  • $29,599,275
    Funds lent in using Kiva
  • 1,990.0
    Uganda Shillings (UGX) = $1 USD

Success!! The loan was 100% repaid

A portion of Lutengo Development Group's $3,025 loan helped a member buy another "boda boda" to hire out.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 3, 2008
Listed
Oct 31, 2008
Currency Exchange Loss:
Covered
Ended:
Feb 15, 2009