B. Jennifer is the leader of her lending group in Ibanda. She is 29 years old and married with 3 children, all of whom are her dependents. She has a drug shop business in Kanyarugiri that she has been running for 8 years. She has strategically positioned her business to enable her to make more money as long as she has the necessary stock.
She hopes to turn her drug shop into a pharmacy and to have a happy and educated family. At the moment, she makes 150,000/= in profits, and she would like to increase this. She needs a loan to help buy more stock for her drug shop to avoid a shortage. She is really determined to prosperous.
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