Mulwanyi Ronald, Group Loan, ID: 134

Ronald is seeking a group loan worth UGX 1,000,000=, to add to his personal savings so as to purchase another motorcycle for his boda boda (passenger motorcycle) business. He has been doing this business for three (3) years now and the business is promising and profitable given the increasing usage of boda bodas due to their flexibility in and around the city centre. He uses the motorcycle to transport passengers and cargo in and around the neighboring areas. However, with the purchase of another motorcycle, Ronald will hire another person to operate it and he he is projecting the business to be generating an additional UGX 260,000= every month. The risk involved in this business is that the business can get paralysed if the motor cycle breaks down, however this is mitigated by doing regular servicing of the motorcycle.

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
Mulwanyi Ronald
Client description
Ronald is a born of 1982 and resident of Buzzi Cell, Kawuku, Kajjansi. He is operating a boda boda (passenger motorcycle) bussiness.
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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