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Madalena's Group
In this Group: Madalena, Yusuf, Fred, Godfrey, Joyce, Sarah, Christine
N. Madalena is a business lady in the business of selling produce to markets. She works mostly as a supplier whereby she buys from farmers and loads goods on a truck with some of her friends which they then supply to markets where they sell as wholesalers. She deals in produce like cassava, sweet potatoes, maize, beans and so on and this helps her to get her money in a wholesome way.

This is the 18th loan N. is getting from Pearl Microfinance. She says that her loans have helped her in running her businesses. She needs this loan to buy a plantation of cassava so she can sell in portions depending on the demand for her produce.

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
  • 258
    View loans »
    Uganda Loans Fundraising
  • $29,230,350
    Funds lent in using Kiva
  • 2,081.0
    Uganda Shillings (UGX) = $1 USD

Success!! The loan was 100% repaid

A portion of Madalena's Group's $2,800 loan helped a member to buy a cassava plantation to sell cassava.
100% repaid
Repayment Term
7 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 11, 2009
Listed
Mar 25, 2009
Currency Exchange Loss:
Covered
Ended:
Sep 15, 2009