Jojina has had her own shop for 5 years. She works 12 hours a day and earns a monthly profit of approximately 250,000 Tanzanian shillings.
This is Jojina’s first loan from BRAC Tanzania. She has requested 300,000 TZS in order to buy more items for her shop, like rice and oil. With the additional profit she gains from the use of this loan, Jojina hopes to do repairs, to get more food for her family, to pay school fees, and to expand her business.
Romana, another member of the Kibwabwa borrower group, has also requested 200,000 TZS in order to support her own shop business.
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