Kudra N. is a jovial and hard working, single mother of 4,. She operates a restaurant next to the Agip petrol station in Mbarara. She rents the semi permanent structure for 20,000UGX per month. This business came into existence as a result of her small savings. As there is a lack of the necessary equipment and utensils, the business earns a low income of 5,000UGX per week. She expects that by using the loan to purchase flasks, saucepans, charcoal stoves and other utensils, the business will increase rapidly. With four years experience in the business, her strength in attracting customers has been the remarkable standards of hygiene that she maintains at her premises. For her business to blossom, she wants to install modern chairs, counters and other furniture.
With sufficient funds, Kudra’s desire is to become a matooke (plantain) vendor in the capital where the food is in high demand. Her ambition is to see her children through school and on to university.
About BRAC Uganda
This loan is administered by BRAC Uganda, a registered non-governmental organization (NGO) in Uganda that is also a part of the BRAC international network. BRAC Uganda attempts to address poverty through a holistic model, offering programs in education, health, water & sanitation, agriculture, and microfinance. BRAC Uganda’s microfinance program aims to provide the poor with easy, reliable, and efficient access to institutional financial services, and reaches over 150,000 families in Uganda. For more on BRAC Uganda, please see our partner page, and join our lending team, Friends of BRAC Uganda.
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.