#555 Micro Loans - 3rd Group

Updates to This Project

Permalink Update from Doug Penner on June 9, 2011 at 11:58am

SARAH NAKIMULI
Business Location: Butega Mityana, Uganda
Type of Business: Piggery
Amount of loan: 300,000 UGX
Interest: 4% per month over a period of 6 months

Sarah has three years experience managing a piggery. Pork is a valued commodity in the local market and Sarah will be able to raise her pigs and sell them for a good profit.
She currently has a sow which is about to deliver. Sarah does not have a pigsty that is big enough to accommodate and shelter more piglets. A loan will help Sarah construct an extension to her pigsty and buy feed for the new born piglets. Sarah needs the money to help keep her piglets alive and healthy.
Sarah’s long-term goals are to expand her piggery project to manage more pigs with a larger shelter and obtain enough feed and dewormer medication. Sarah would like to eventually move forward with developing a poultry business alongside her piggery.

Permalink Update from Doug Penner on June 9, 2011 at 11:59am

CHRISTINE NAMAYANJA
Business Location: Station Road Mityana, Uganda
Type of Business: Saloon/Clothing Retailer
Amount of loan: 300,000 UGX
Interest: 4% per month over a period of 6 months

Christine has been working in her saloon and garment shop for the past five years. Her store recently had the electricity disconnected and she has been trying to maintain her business while working in the dark. She cannot afford to reconnect the power and her clientele has decreased as a result. Christine needs a loan so that she will have electricity and lights in her business again. Christine will also be able to restock her garment items and satisfy customer demands. Christine’s long term goal for her business is to shift to a more strategic location closer to the town centre of Mityana.

 

Permalink Update from Doug Penner on June 9, 2011 at 11:59am

BASHIR NGUDDE
Business Location: Butega Mityana, Uganda
Type of Business: Piggery
Amount of loan: 200,000 UGX
Interest: 4% per month over a period of 6 months

Bashir has been trying to develop his piggery over the past year. He currently owns two pigs but does not have a proper shelter for them. The pigs are tied up with a rope and sleep under trees. Bashir desperately needs to construct a pigsty because the rainy season is underway and the pigs will face serious health affects without a sufficient shelter. With the help of a loan, Bashir can build a pigsty and ensure his pigs stay alive and healthy. His long term focus is to expand his piggery project to accommodate more pigs. Bashir will be able to sell his pork in the market where the product is in high demand.

 

Permalink Update from Doug Penner on June 9, 2011 at 12:00pm

ROBINAH NALWEYISO
Business Location: Kibibi Garage, Mityana, Uganda
Type of Business: Retail Grocery
Amount of loan: 100,000 UGX
Interest: 4% per month over a period of 6 months

Robinah owns a stall that sells food items to the local community. Her fastest moving items are sweet potatoes and bananas. Her fruits and vegetables are in high demand at the local market and surrounding area. Robinah would like a loan to boost her working capital. With the money she will be able to restock her food stall and expand her stall to carry a variety of retail items. This will help satisfy customer needs and increase her cliental. In the long term, Robinah wants to shift from retail to wholesale supply.

 

Permalink Update from Doug Penner on June 9, 2011 at 12:00pm

JOYCE NAKIRANDA
Business Location: Wabigalo Mityana, Uganda
Type of Business: Hardware Store
Amount of loan: 500,000 UGX
Interest: 4% per month over a period of 6 months

Joyce’s hardware store is strategically located in town and carries a variety of hardware supplies. Her best selling items include: nails, wire mesh, bars, and cement. She has a strong customer base with frequent buyers but her shop is currently under-stocked. Joyce is unable to satisfy her customer demands because she cannot restock her shelves fast enough. She needs a loan to buy more hardware supplies so that her customers will be happy and continue to return to her shop. Joyce’s future goals include expanding her business towards the wholesale sector.

Permalink Update from Doug Penner on August 9, 2011 at 9:51am

Group 3's 1st meeting minutes.... 3 of 5 attended. Talked about fines for late payments. Decided to set up a reserve fund they can borrow against for investment or medical emergencies....

Permalink Update from Doug Penner on August 9, 2011 at 10:11am

Group 3's second meeting minutes.... 3 of 5 attended (the other 2 will be fined). Appointed positions (secretary, treasurer, etc.)....

Permalink Update from Doug Penner on August 9, 2011 at 10:18am

Copies of Group 3's 3rd meeting minutes.... Members benefiting, but one not attending any meetings. Pigs stolen. Struggles with inflation....

Permalink Update from Steve Stewart on September 30, 2011 at 8:43am

Doug

I was thinking of getting my men's group here in Albuquerque New Mexico to begin supporting the Micro Loans in Uganda.

Any advice you need to give us? Do we need to pick one of the projects or just give to the total budget and you distribute it accordingly?

Blessings

Kenneth Armstrong.

Permalink Update from Doug Penner on December 15, 2011 at 8:59am

Financial statements from Beatrice....