Yaa is an egg trader. She procures crates of eggs from poultry farms in her community and nearby communities at affordable prices and sells these in the local market. She also travels to other towns to sell. Some of her wares are distributed to local retailers and beverage sellers.
She has been in business for four years and would like to obtain a loan to procure crates of eggs in bulk. Yaa is hopeful about expanding her business and hopes to give her children the best education she can afford.
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