Akello Barbara, Group Loan, ID: 32

She is up for a loan to purchase more stock items like Bedcovers, Bedsheets and adult wears (Jumpers). She intends to add on new product lines on her old stock. Mobile markets where she operates are gazetted once in a week in each of the mentioned location above respectively. Sales vary according to the location and weather condition of the day since she operates in an open stand. When it rains heavily, few customers would turn up while in a good weather, many customers show up to buy which exponentially determine sales.

Loan status
Repaid
Loan product
Group Loan
Loan amount
UGX 500,000
Repayment period
24
Repayment interval
Weekly
Grace period
1

Create date
30/01/2019
Published date
11/03/2019
Auction end date
13/03/2019
Disbursement date
13/03/2019

Disbursement fee
4.00 %
Interest commission
15.00 %
Lender interest limit
12.00 %
Average lender interest
7.90 %
Cost for business
UGX 47,298
APR (Annual percentage rate)
44.28 %

Client name
Akello Barbara
Client description
Akello is a very active member of the group and relates well with the rest of the group members. She sells clothes in mobile markets in Kampala city, Kajjansi town and Entebbe town. She has one-year experience in the clothing business. In addition, she sells gravel stones in a stone quarry where she earns some extra income.
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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