Ipogolo D Group
Fabiola has owned a salon for 5 years. She works 12 hours a day and earns a monthly profit of approximately 190,000 Tanzanian shillings (or about $140 US).
This is Fabiola’s 1st loan from BRAC Tanzania. She has requested 200,000 shillings (or about $155) in order to buy more supplies. With the additional profit she gains from the use of this loan, Fabiola hopes to expand her business.
Maria, another member of the Ipogolo D borrower group, has requested 250,000 shillings (or about $195) in order to support her business of selling snacks and charcoal.
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