T. Florence is a very determined lady with a business-oriented mind. She is married and has 3 children between 6 and 13 years of age. Her eldest child is in secondary school while the other two are in primary and nursery school. Florence has had a retail shop in Nkondo for 8 years where she also sells green bananas used for making matooke (cooked green banana dish). She further stresses that the location of her business helps her to succeed by making a lot of profit, once she stocks her shop with more goods. Florence has a dream of developing her shop into a wholesale shop and to see all her children educated through to the University. She will use her loan to restock her retail shop. Her previous loans have been helping her to avoid a shortage of goods in her shop.
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.