Togetherness #2 Group
Manyunbry business consists of selling palm oil wholesale, which is used for cooking and making soap in the Bokeza market and other markets in a stall alongside other vendors. She has been running her business for the past two years. Today, her business is only open when she has inventory, even though the demand is constant. She’s requesting a loan so that she can purchase raw materials and increase her inventory sufficiently so she can keep her business open year-round. She treats her customers so well that she believes they will come to her store year-round from adjacent villages. With the profits, she will invest in the future of her kids, especially to send them to school - of which she was unable to attend.
Note on LEAP:During routine partner monitoring, Kiva learned that LEAP's delinquency data may be understated due to technical problems with their reporting software. Because this report is key to our analysis of the risk of this partner, delinquency or default rates on loans to this partner may be higher than we expect. For further details, see LEAP’s partner page on Kiva.
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