A year ago, Anna started her own clothing business selling clothes. She works twelve hours a day and earns a monthly profit of approximately 100,000 Tanzania Shillings.
This is Anna’s first loan from BRAC Tanzania. She has requested 200,000 Tsh in order to buy more clothes. With the additional profit she gains from the use of this loan, Anna hopes to save money and expand her business.
Maria, the other member of the Ushirikiano borrower group, has requested 150,000 Tsh in order to support her own clothing 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