K. Jimmy is a hardworking and dependable 36-year-old man with a business selling produce for 15 years. He is a married man with three children all in school. He also cares for five dependants. His business is located in Mubende Town Council and being honest has won him good customers. Jimmy plans to build a warehouse for his business as well as build a second home that will be rented out for money. At the moment, Jimmy is making monthly profits of 220,000 and he hopes to increase it with future investments. For Jimmy, his loans have always helped him boost his business and enlarge his capital base, hence making more profits. He needs a loan so that he can buy more beans and maize to sell. Jimmy is the leader of the Mukisa group in Mubende.
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.