2018 was filled with many successes that we want to share! Our program gives out both group and individual loans. We usually give out more group loans for smaller amounts, 144 loans amongst 12 groups. Our individual loans are largers and given to our trusted borrowers. Last year we gave 33 loans to individuals. The total of all our loans was over $21,000!
That amount may seem small, but we have to remember the cost of living in Uganda is much lower than North America. Our loans range from $20-$300. Did you know that $20 can help a women start her own business?
The average repayment rate on our loans is 87-90% and Kleos Uganda is working with these individuals to increase those repayment rates.
In the inaugural year of our scholarship program, through crowdfunding and donations we were able to raise $2000 so we could send 5 students to technical college. These kids are children of women who are members of our program and once they are completed their schooling, they will receive loans to get started with their own businesses.
We have larger goals for 2019. We want to raise even more money so we can help more women and students. If you are interested in donating, please visit https://www.kleosmfg.org/donate to donate now!