His business is located in Kigando II in Ibanda and right now, he is able to make a weekly profit of 40,000 shillings (about US $18). The secret to his success is his loyalty to his customers. He would like to expand his farm into a much bigger one with more animals and chickens. Wilson works hard to educate his children to a higher level so that they can provide for themselves in the future. He wants a loan to buy and fatten more cows for sale, as he keeps them for a while. His previous loan helped to increase the stock of cows in his farm and their quality by buying drugs for them.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid