This is his 14th loan from his group and he is able to make a profit of 200,000 UGX in a month. Paul has a dream of buying his own truck to transport his goods, as well as having an educated family. He is a 41-year-old married man with 10 children; the eldest is 21 years old and in school. He also cares for 10 dependents, some of whom are orphans. He requests a loan to purchase produce like cassava and sweet potatoes for his business.
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