Beatrice has a stall that she has been running for eight years, ever since she divorced her husband. She sells tomatoes, egg plant, green and yellow bananas, and so on.
This is her 13th loan with her lending group and so far she has no regrets because she has been able to increase the stock on her stall, as well as buying a plot of land and building her own house, as well as caring for her child single-handedly. She also has staying with her, her young brother for whom she pays school fees. She is happy that, in addition to her persistence and hard work, the loans have made all this possible.
Beatrice needs a loan to help with restocking her stall with more produce and partly to pay school fees for her young ones.
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