Adrine is a forty year old business lady in Ishaka town dealing in second hand clothes. She started the sale of second hand clothes 7 years ago with an objective of getting enough money which she would use to cater for her needs and the needs of her four children. Adrine’s business is located in Ishaka town along the market street and this being a busy street she makes high sales which increases her profits in a given period. She started a small business with hopes that it would grow from one level to another and she is glad that it has grown, though not to the level she would love it to grow. The reason why she has applied for a loan through Buramba tukwatanise group is so that she can buy more stock, make more sales and hence earn enough profits which she would use to cater for the needs of the family. Her clients are people in Ishaka town and those who go through ishaka town as they move from one village to another. Adrine is a hard working business lady who works throughout the week, but the competition in her area of operation sets her back, however, she is determined to grow the business despite the competition and she believes that she will achieve her dream in life.
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.