She has a retail shop. She has been a shopkeeper for five years and is able to make 100,000UGX a week, which in turn helps her to take care of her family including paying their school fees. Before this, Jenifer was a poultry farmer but is now happy that her friendliness and accountability have kept her in business.
In the future, she wants to become a wholesale supplier of goods so that she can sell more. She also envisions seeing all her children and those she takes care of attain the best of education so that they can get better jobs for self-sustainability. Jenifer needs a loan to help add more capital to her shop since this brings about stability in the supply of products and the smooth running of the business.
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