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May 15, 2016 1:39 EST

Uganda – Kagashe Tukwatanise Group: A portion of Kagashe Tukwatanise Group’s $3,025 loan helps a member to hire labour to weed his tree plantation

iCrowdNewswire - May 15, 2016

 

 

 

Kagashe Tukwatanise Group
In this Group: James, Richard, Edson, Kadde, Sam

Update on Kagashe Tukwatanise Group

Kagashe Tukwatanise Group is located in the village of Katabushera, Bugangari Sub County, Rujumbura County, Rukungiri district. The group is comprised of only five men who are all married and generally depend on agriculture and simple trading for a livelihood.

Sam is the chairman of the group, standing at the extreme left and is a married man with four children who apparently are all school going. He basically deals in forestry and farming to support his family. He applied for a loan of UGX 2,000,000 (two million shillings) basically to get money and pay for labour to weed his tree plantation, because it’s from the trees that he gets money to pay for his children’s school fees. The entire group applied for a loan of UGX 10,000,000 (ten million shillings) and they are very thankful to UGAFODE for the financial support.

Previous Loan Details

Kagashe tukwatanise group is located in Rukungiri district, bugangari Sub County, katabushera. The group is comprised of only men whose major activity is agriculture. Richard is a married man aged 49 years and a father of five children, all in school. Richard is mainly an agriculturalist who grow… More from Kagashe Tukwatanise Group’s previous loan »

Additional Information

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower’s second, third, etc., loan on Kiva without having to re-enter all of the borrower’s information.

This borrower has been listed on Kiva before, so you’ll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary “add-on” loan along with it. These “add-on” loans are typically smaller than the borrower’s primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

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.

Contact Information:

James, Richard, Edson, Kadde, Sam

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