Moses is a married man with five children who lives in Kyenjojo, Uganda. He has been in a retail shop business for eight years dealing in soap, sugar and salt, which he started with capital from savings in their group and now has grown. He obtains additional income from farming where he grows maize and has been member of a village group where members save and guarantee one another to get a loan. He experiences high transport costs due to the long distances to the urban centers to buy his products since he is in a rural area. In spite of this, his vision is to be economically well off. Moses needs the loan to buy soap, sugar and salt to sell.
More information about this loan
This loan is part of HOFOKAM's program targeting poor and geographically excluded populations in Western Uganda. In addition to loans, it provides social and business training programs to low-income entrepreneurs and their communities. Since 2003, HOFOKAM has provided sustainable financial and non-financial services to promote social, economic and sustainable land development and improve the quality of life for vulnerable populations. The organization has a clear vested interest in underserved communities with its headquarters in rural Fort Portal and a number of branches in extremely remote areas.
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.