This is Teopista’s first loan. She hopes to develop her shop and her family, just like the other ladies she has seen using loans. She is a married lady with 6 school-going children aged 8 – 18 years. She also cares for 4 orphans who are not yet in school due to lack of school fees and because she has just started caring with them. She will use her loan to buy more sugar, salt, soap, cooking oil, and other products for her shop. In the future, she would like it to turn into a wholesale shop.
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