George is a hardworking man who manages two businesses: that is, he is a farmer and at the same time has a carpentry workshop in Rwemengo Trading Centre. It’s because of his loyalty that he is successful in business. He does his two businesses interchangeably and employs a few people to help with his businesses so that he can expand his business as well as have a happy and educated family.
George needs a loan to be able to buy farm inputs like fertilizer and quality seeds to ensure quality production.
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