Nakitto Hafiswa Male, Group Loan, ID: 36

Hasifwa needs a loan to purchase more stock items such as crates of sodas, bag of sugar (50kg) and a carton of wheat flour. She has operated the retail shop business for four years. The shop is situated in a strategic area with Kajjansi Secondary school on the right amidst a residential area. So, demand is readily available. However, the business may face a marginal risk of power cuts which may occur once or twice a week in a lapse of one hour or so. It may affect her fridge which is not guarded against surging power and content as well which may consequently slow down her business sales.

Loan status
Repaid
Loan product
Group Loan
Loan amount
UGX 400,000
Repayment period
24
Repayment interval
Weekly
Grace period
1

Create date
11/03/2019
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 37,838
APR (Annual percentage rate)
44.28 %

Client name
Nakitto Hafiswa Male
Client description
Nakitto is a married woman born in 1990, resident of Lweza Cell B. She operates a retail shop and stays in the same premises.
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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