Florence M. is one of the executive members of Balikyewunya group in Gayaza and has a decorating business that has been running for over 20 years. She also keeps pigs at home. She is a friendly lady and this has won her customers because of her free nature. She is able to make a weekly profit of about 50,000/= and this usually increases in some seasons like Easter and Christmas and on special occasions. Florence is a married mother of five children who are still in school and she cares for five grandchildren. Her main challenge is paying her children’s school fees. This is one reason Florence works so hard. She needs a new loan to buy more decorating materials like nets and veils and to buy two pigs for her farm.
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.