Rose N. is a hardworking and devoted 45-year-old single mother of 4 children ages 23 – 29. All of her children have finished school and she cares for 6 other dependents. Rose is a farmer with 5 years experience and her main business challenges are climate changes, being able to find high quality seeds, pests and diseases, and the monkeys that eat up the crops before harvest. At the moment, Rose is able to make weekly profits of 40,000 UGX as a result of the high quality produce she gets from her farm. She has a dream of buying more land for additional farming so that she can earn more profits. With this loan she needs to buy more seeds.
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.