Norah is able to make 100,000/= in weekly profit and this helps to pay her children's school fees and general upkeep expenses. She ensures that she makes quality drinks for her consumers and her dream now is to expand her business further by putting in more capital. She also hopes to build a family house and educate her children to university level. Out of her seven children, one is at university, one is in secondary school, three are in primary school, one is in the nursery section while the last-born is still a baby and not yet in school. Norah is requesting a loan to buy sukaali gulu, a kind of sugar used in the waragi brewing 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