Betty has owned and managed a fruit and vegetable selling business in Namulesa for four years from which she is able to make 70,000/= of profits a week. She gets her produce from the villages and from her farm because she is a farmer herself and this helps her to have stock all the time and hence more customers.
Betty needs a loan to be able to buy more fruit and vegetables for resale and partly to pay school fees for her children. She is such a friendly and hardworking lady.
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