Grace has her own grocery business selling drinks like soda and beer. She has had this business for 4 years. She works for 8 hours a day and earns a monthly profit of approximately 90,000 Tanzania Schillings.
This is Grace’s first loan from BRAC Tanzania. She has requested 200,000 Tsh in order to buy more beer for her shop. With the additional profit she gains from the use of this loan, Grace hopes to expand her business.
Matha S., another member of the Majengo borrower group, has also requested 200,000 Tsh in order to support her own business.
Martha Elieke, also a member of the Majengo borrower group, has requested a loan of 200,000 Schillings for her business of selling vitenge and kanga (fabric).
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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