Maendeleo 'a' Group
Jane is 36 years old, married, and has six children: ages 15, 12, 9, 6, and 2. Jane has been a fish seller in the Nzovwe neighborhood of Mbeya for many years. She currently earns very little monthly profit. Every day she works at her business for twelve hours.
She is requesting her first loan from BRAC Tanzania to buy more fish for resale in order to expand her business. She is hoping that through this loan her profit will increase and she will be able to grow her business.
Jane will be sharing this loan with her fellow group member Nandiwe. Nandiwe has her own small business selling milk in Mbeya.
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