Semugenya used to be a farmer but was affected by the drop in price of produce and so changed to retail sales. From her shop she makes 200,000 UGX in profits, mostly attributable to the use of her loan and the quality of her products.
At the moment, Semugenya is requesting a loan to restock her shop with more goods and to pay for part of her children’s school fees. Semugenya dreams of becoming a wholesaler as well as educating her children to the highest level.
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