Kavira Sifa, Group Loan, ID: 30

Sifa needs a group loan to purchase more input materials for making hand-made crafts such as baby elephants and other children dolls. The input materials required include cotton, clothes of type Kitenge, threads and hire more labour. She makes the crafts at her home which saves her of rent and hires ocasionary a few people to help her. Sifa supplies craft products three times a week to craft shops in town. The products have no risks and market is readily available in and around Kampala.

Loan status
Cancelled
Loan product
Group Loan
Loan amount
UGX 700,000
Repayment period
24
Repayment interval
Weekly
Grace period
1

Create date
30/01/2019
Auction end date
24/02/2019
Disbursement date
26/02/2019

Disbursement fee
4.00 %
Interest commission
15.00 %
Lender interest limit
12.00 %
Cost for business
UGX 72,436
APR (Annual percentage rate)
49.15 %

Client name
Kavira Sifa
Client description
Kavira  Sifa is the lead person who organized all group members and she is the chairperson of  Twezimbe finance group. She is well known in Lweza cell B and to the neighbourhood which signifies commitment, trust and honesty in her. She makes hand-made crafts and supplies them in craft shops in Kampala city. She has been operating the business of making crafts since the year 2010, so she has obtained enough experience in managing the business.
Client images
Due diligence status
Passed
Group
Twezimbe
Description
This finance group was formed by 5 women pioneer members with the aim of taking group loans from Sseguku Microfinance to finance their individual businesses respectively. The group is found in Lweza Cell B, a village located North Eastern part of Kajjansi town in a distance of approximately 1.5 km along Entebbe airport road. Since it’s a residential area, people set up businesses on individual basis such as in their homes, garages, backyard, along the street in make-shift structures etc. It makes them prone to varying challenges compared to those in an organized market but on the other hand leverage on less expenses like rent, taxes etc.
Subgroup
Favour
Description
The first group of 5 women members were categorized into a sub unit which they unanimously given a name Favour to easily manage the group. The name was suggested by Sifa, the chairperson and seconded by the rest of the group members.
Officer Name
HP
Group members
Group Disbursement Date Name Status Relation
Twezimbe/Favour 3/13/2019 Kyamagero Ruth Disbursed Chairperson
Twezimbe/Favour 3/13/2019 Akello Barbara Repaid Secretary
Twezimbe/Favour 3/13/2019 Nakira Milly Repaid Member
Twezimbe/Favour 3/13/2019 Nakitto Hafiswa Male Repaid Member
Twezimbe/Favour 3/13/2019 Birungi Justine Defaulted Treasurer

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