Namakula Harina, Agriculture Loan, ID: 122

Harina grows vegetables such as nakati, sukumawiki and dodo at her plot located in Kajjansi Kitende-Bwebajja Cell(KKB) and has been doing it since 2010. She has been growing the vegetables on an estimated ¼ acre of land; however, she intends to expand the production to cover an estimated 1-acre piece of land due to the growing number of clients. She therefore needs an agricultural loan to buy a water pump, vegetable seedlings, pesticides and hire of labour in the farm. The average customer are the vegetable market vendors who buy directly from her. The maturity period of the vegetables is between 6-8 weeks.    She also prepares snacks and food stuff that she has been supplying to schools except for during this Covid-19 period, however with the reopening of the schools this will enable her generate more income as well. However, she is not the only vegetable farmer in and around the area, this implies that if the production from several farmers is high the prices of vegetables are likely to come down thus affecting the sales revenue. In the event of a long dry season also, this is likely to affect the yields of the vegetables. However, this risk is minimal given the presence of a river that flows besides the land and the fact that she intends to get a water pump that will be used for irrigation purposes during such situations. However, the vegetable farming business is promising and with the opening of schools, her snacks and foods stuff business will be able to generate additional income for her.

Loan status
Disbursed
Percent repaid
0 %
Loan product
Agriculture Loan
Loan amount
UGX 1,000,000
Repayment period
3
Repayment interval
Monthly
Grace period
3

Create date
30/09/2020
Published date
04/11/2020
Auction end date
16/11/2020
Disbursement date
16/11/2020

Disbursement fee
5.00 %
Interest commission
20.00 %
Lender interest limit
15.00 %
Average lender interest
9.32 %
Cost for business
UGX 162,898
APR (Annual percentage rate)
46.32 %

Client name
Namakula Harina
Client description
Harina needs an agricultural loan to upscale her vegetable poduction. She grows vegetables such as nakati, sukumawiki and dodo at her plot located in Kajjansi Kitende-Bwebajja Cell(KKB) and has been doing it since 2010. She has been growing the vegetables on an estimated ¼ acre of the land; however, she intends to expand the production to cover an estimated 1-acre piece of land due to the growing number of clients. She therefore needs the agricultural loan to buy a water pump, vegetable seedlings, pesticides and hire of labour in the farm. The average customer are the vegetable market vendors who buy directly from her. The maturity period of the vegetables is between 6-8 weeks.    She also prepares snacks and food stuff that she has been supplying to schools except for during this Covid-19 period, however with the reopening of the schools this will enable her generate more income as well. However, she is not the only vegetable farmer in and around the area, this implies that if the production from several farmers is high the prices of vegetables are likely to come down thus affecting the sales revenue. In the event of a long dry season also, this is likely to affect the yields of the vegetables. However, this risk is minimal given the presence of a river that flows besides the land and the fact that she intends to get a water pump that will be used for irrigation purposes during such situations. This client is promising
Client images
Due diligence status
Passed

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