Deus has had a business selling produce from Rugaaga III centre for four years and his biggest business challenge is the poor seasons but, through experience, he has learnt to deal with them. He is able to make UGX 150,000 as monthly profits and he hopes to expand his business further as well as to have a healthy, good family.
Deus needs a loan to be able to buy more produce for his business in order to avoid shortages for his customers. Deus is the leader of Rugaaga I Tutungukye group in Ibanda.
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