Ryamuganga Imuka Tukore Group
He does agriculture, specializing in tea and banana planting. He has applied for a loan of 1,500,000 UGX (one million, five hundred thousand shillings only) to buy fertilizer for his tea plantation. He started his business in 1988 with the aim of getting income to support his family. The business is carried out from Ryamuganga a rural area in Mitooma district and his clients are the tea factories and tea business men.
He hopes to harvest high quality tea through his hard work and become a very rich man in future after utilizing the loan. He is faced with the challenge of poor weather conditions but is determined to increase his productivity through his hard working. He is thankful for the financial support from micro lenders.
More information about this loan
This loan is part of UGAFODE's green loan program, giving Ugandan farmers the support they need to grow and process organic fruits and vegetables. Funds will be used to obtain critical resources like processing equipment, mulch and organic seedlings to reduce waste water contamination and improve consumer health. The green loan program also helps clients combat regional problems like deforestation and over-fishing.
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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