KIVA: Fatumah Basoma's Group
Fatumah Basoma is the leader of Mukisa group in Butiki, Jinja (Uganda). She is a hard-working lady who runs a business selling clothes.
She buys garments for her shop from Jinja, Iganga and sometimes from Kampala, depending on the prices at the time. Fatumah sells mostly womenswear and childrenswear, both brand new and used, and this has enabled her to win many customers with different tastes. She has run her shop for four years now, and she hopes that it will grow more and more. Fatumah needs a loan to help buy a bale of clothes to resell.
About Group Loans
In a group loan, each member of the group receives an individual loan but is part of a group of individuals bound by a group guarantee. Under this arrangement, each member of the group supports one another and is responsible for paying back the loans of their fellow group members if someone is delinquent or defaults.