Nakira Milly, Group Loan, ID: 35

Nakira is up for a loan to restock the school canteen with a variety of items such as a bag of Irish potatoes, Cassava and 20 litter jerrican of cooking oil. She has gained working experience in doing this business for ten years which makes her comfortable in managing it. The business is active during school term which began a month ago. The business sales slowdown when the school breaks for holidays. The demand of drinks, snacks, food and stationary materials is readily available from students and teachers at school.    

Loan status
Repaid
Loan product
Group Loan
Loan amount
UGX 600,000
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 56,757
APR (Annual percentage rate)
44.28 %

Client name
Nakira Milly
Client description
Milly is a female client born in 1975, resident of Lweza B. She is running a school canteen in Kajjansi progressive secondary school, Lweza B. She has been operating this business for ten years. 
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
Waca Ivan
Group members
Group Disbursement Date Name Status Relation
Twezimbe/Favour 3/13/2019 Kyamagero Ruth Defaulted 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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