Rebecca has a boutique business in Kawempe. She has been running her business for one year. This is Rebecca’s second loan with the group and, so far, she was able to buy more fancy clothes for her customers, which won her more income. Rebecca is now able to make weekly profits of 20,000/= and she hopes for this to increase in the future. She is seeking this loan to help her buy more clothes and jewelry for her boutique.
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