#570 Micro Loans 2

Updates to This Project

Permalink Update from Doug Penner on June 9, 2011 at 10:53am

AIDAH LUBEGA
Business Location: Kiyinda B Mityana Uganda
Type of Business: Retail Grocery
Amount of loan: 500,000 UGX
Interest: 4% per month over a period of 6 months
Aidah’s retail grocery shop has an excellent strategic location in proximity to the market. She has fast moving products and she needs to restock them to compete with the merchandise availability at the market. The items which she needs to restock are: soap, sugar, rice, beans, soda, cooking oil, and flours. With the support of a loan Aidah will be able to restock these items to satisfy her customer demands and grow her clientele base. The loan will also help to increase her business profits by 5%. In the long term, Aidah plans to sell off all of her slow moving stock and only shelf fast moving items to increase her product turnover rate.

Permalink Update from Doug Penner on June 9, 2011 at 10:53am

GRACE WALIGGO GLADYS
Business Location: Kiyinda B Mityana Uganda
Type of Business: Proffessional Designer / Tailor
Amount of loan: 400,000 UGX
Interest: 4% per month over a period of 6 months
Grace has three years business experience in professional design and tailoring. She specializes in the bridal market and there is a high market demand for her skills. There are few professionals that can provide the services which her business does. Grace needs a loan to boost her working capital and improve her profits by 5%. She currently has two upcoming projects which she will not be able to finish in time if she does not receive a loan. Her long term goals are to expand her business and move to a better location.

Permalink Update from Doug Penner on June 9, 2011 at 10:53am

EVA NAMAYANJA
Business Location: Kakungube Mubende Road Uganda
Type of Business: Pharmacy Shop / Dental services
Amount of loan: 500,000 UGX
Interest: 4% per month over a period of 6 months
Eva’s business provides the community with dental services and pharmacy medicine. But Eva’s pharmacy is currently under-stocked and she is unable to meet the medical needs of the community. She also does not have enough dental tools to properly administer dental work for her patients. If Eva receives a loan she will be able to provide better medical services for the community and increase her profit revenue by 5%. Eva’s long term goals are to acquire a larger business location and develop a health centre which can receive patient admissions.

Permalink Update from Doug Penner on June 9, 2011 at 10:54am

MUTEBI MESACH
Business Location: Mubende Uganda
Type of Business: Gerry Can Fuel: Sales and Delivery
Amount of loan: 300,000 UGX
Interest: 4% per month over a period of 6 months
Mutebi works in the business of delivering and selling jerrycans of fuel to remote villages. These villages have limited access to fuel and rely of delivery services to receive it. Mutebi purchases fuel (Diesel, Petro, Kerosene) from Mityana town and then delivers it to far away Mubende villages on his boda boda (small motorcycle). He has a good market with high demand but travel expenses are costly for the long journey from town to village. His sale profit margin is low because he is only capable of delivering a small amount of fuel on his boda boda to cover his expensive travel costs. A loan will help boost Mutebi’s working capital and he will save up to buy a small pickup to use for his business. A pickup will allow Mutebi to deliver larger quantities of fuel to improve his sales profits and cover his travel expenses.

Permalink Update from Doug Penner on June 9, 2011 at 10:54am

PETRID NANKUMBA
Business Location: Danya Mityana Uganda
Type of Business: Stone Quarry
Amount of loan: 100,000 UGX
Interest: 4% per month over a period of 6 months
Petrid owns vast land which is naturally endowed with hard stone This stone is an important resource which is used for building in Uganda. On her land she has apportioned a quarry where she has hired some men to dig up and break the stones. There is a high demand for her stone from the builders in Mityana. Petrid is only able to make one trip a week right now to sell her product and this one trip does not satisfy the needs of the market. Petrid needs a loan in order to increase her working capital and employ two more workers. If Petrid receives a loan she will be able to double her trips to the Mityana market to sell her product. Her long term goals include expanding his quarry and buying a boda boda motorcycle so that she can increase her daily income.

Permalink Update from Doug Penner on June 9, 2011 at 10:58am

Withdrawal slips:

Permalink Update from Doug Penner on June 9, 2011 at 11:01am

Pictures of the entrepreneurs in action....

Aidah's Retail Grocery

Grace's Bridal Tailoring

Eva's Pharmacy and Dental:

Mutebi's Jerrycan Fuel:

Permalink Update from Doug Penner on August 9, 2011 at 9:21am

Copies of the minutes from Group 2's meeting.... 3 of 5 attending. All paying on time. Inflation hurting business....