Sula is 49 years old and married. Thanks to his hard-working nature, his businesses are thriving. Sula is in the business of making cakes which he has sold from his home for 10 years now. The biggest challenge he has is that the market for cakes is on and off, thus affecting his cash flow. All the same, he is able to make 30,000 in approximate weekly profits, which he then diverts to his farming business and uses to pay the children’s school fees. Sula has also started a poultry business for his wife, and they hope that the future will be bright if all their businesses continue to be handled well.
In his cake-making business, Sula needs cassava flour, soya, cooking oil, salt, sugar, and firewood, and the loans have been allowing him to stock these in large quantities, just as he hopes to do this time with his share of the loan.
Sula is the father of six children between the ages of three and 20. All but the youngest are enrolled in school. He cares for four additional dependents who also attend school.
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