This is a development that has taken him a long time to realize, and not until he was able to join his lending group and was given the idea. He now sees a change in his life, family, and business since every one is happy now. He sells his eggs in Mityana town and Kampala where the market is big. Henry needs a loan to help with buying more feed for his chicks and hiring manpower on his farm.
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