She has been in business for 9 years. Her main business challenge is getting enough produce to sell once the season ends. However, she is able to make 100,000 per month as profit hence she is able to support her children as a widow. Customers are attracted to her stall because her food is good and the beans only take a short time to cook. She has the goal of buying a motorcycle that will help her transport her produce to the main market in order to make more profits.
She works hard to ensure that her children acquire academic diplomas and certificates. Annet needs a loan to help with buying more sacs of beans and to cover transport costs to deliver her produce to her stall.
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