Nabeetya Oliver Magembe, Group Loan, ID: 130

Oliver is seeking a group loan to purchase fire wood worth UGX 500,000= for baking the bricks and also hire land at UGX 400,000= for laying the bricks. She has been in this business for six (6) years and it is very profitable and promising given the increasing demand for bricks in and around the area by numerous clients that are constructing. The risk in this business is that there can be delays in drying of the bricks and also they could be destroyed incase of persistent rains. However this has been mitigated by covering the bricks with thatched grass during rainy seasons.

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

Create date
12/11/2020
Published date
26/01/2021
Auction end date
09/03/2021
Disbursement date
12/03/2021

Disbursement fee
5.00 %
Interest commission
20.00 %
Lender interest limit
12.00 %
Cost for business
UGX 124,005
APR (Annual percentage rate)
61.68 %

Client name
Nabeetya Oliver Magembe
Client description
Oliver is a born of 1973 and a resident of Buzzi Cell, Kawuku, Kajjansi. She deals in the brick laying/making business.
Client images
Due diligence status
Passed
Group
Zion
Description
Zion is a group consisting of six members. The group is located in Kawuku, Kajjansi Town Council. The members are engaged in a number of economic activities such as brick laying or making, food stuffs business, boda boda and food poduce business. The members say the main aim of the group is to support each other to attain financial independence.
Subgroup
G
Description
G is a sub group of Zion and consists of six (6) members
Officer Name
Waca Ivan

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