Birungi Mariciana, Group Loan, ID: 33

Mariciana needs a loan to start a hair salon in Katale Nsalo area. The target area is situated in a distance of 2KM from Lweza cell B where she stays. She already bought a head drier machine and plans to use the loan to buy cosmetics for treating women hair, gloves, chairs, weaves and other items. Since it’s a new business in a new location, it may take some time to break even due lack of customers and competition. However, the vegetable stall business will act as a follow back position for consumption and loan smoothing as the salon gains momentum.

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

Create date
30/01/2019
Auction end date
06/03/2019
Disbursement date
13/03/2019

Disbursement fee
4.00 %
Interest commission
15.00 %
Lender interest limit
12.00 %
Cost for business
UGX 103,480
APR (Annual percentage rate)
49.15 %

Client name
Birungi Mariciana
Client description
Birungi relates well with all group members and cooperated well with Sseguku during assessment. She operates a vegetable stall approximately 20 meters away from where she lives. She has operated the vegetable business for two years. However, recently she experienced some disruptions due to construction work going on which led to relocation of her business to a temporary shelter as she is pondering where to settle.  
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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