K. Isiah is the leader of his lending group in Ibanda. He is a married man with a retail shop as his business on Bufunda Street in Ibanda. He sells products like sugar, salt, soap, cooking oil, flour and many others and he is able to make profits between 250,000/= - 400,000/= and he attributes this to the quality of his products plus the availability of enough stock. He hopes to see his business expand further as well as have a happy family. This is Isaiah’s 20th loan and he hopes to restock his shop with more products to avoid shortage so that he can be able to make more profits. He is so hard working and can do more with an additional capital.
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.