B. Musa is the leader of his lending group in Jinja. He is a married man of 15 years and has nine children of his own and he takes care of three orphans. He is a businessman involved in the buying and selling of produce from Jinja Central market for nine years and he is able to make 400,000 UGX profit per month. His previous business was selling ground nuts in a glass and this changed because the current business is more profitable. Among his produce, he deals in the buying and selling of millet, ground nuts, beans and soya beans and he hopes to include others. He is good at managing his books and he has a dream of building his own full-fledged house and getting a better education for his children. He needs a loan to partly buy more produce for his business and also buy more building materials to build his house. Musa is indeed a very hardworking man.
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.