She plans to builda a residential house for her family and ensure that all her children get a quality education. Yeko needs a loan to help increase the capital in her business so that she is able to buy more produce to resell. This is Yeko’s 35th loan and she and her businesses have grown because of them. She is 50 years and married with 6 children ages 16 to 35, because she also takes care of orphans.
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