She was successful with a small loan through ACCION USA to build her credit, and is now using a new loan to purchase more inventory. She specializes in hair braiding and extensions and plans to use her loan from ACCION USA to purchase more human and synthetic hair at wholesale, which she will sell to other salons for a higher profit.
Business is going well overall; there are expected ups and downs but Massandjie always perseveres. Like many entrepreneurs she works very hard and is always trying to grow and expand her business. She would even like to open a second location.
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