Harriet manages both businesses in two separate areas but is good at coordinating their functionalities. From the clinic, Harriet is able to make 100,000/= plus 70,000/= as profits from the retail shop per week. She has high hopes of having the best laboratory in her business area as well as having her children as role models in the community.
Harriet needs a loan to help increase stock both in the clinic and in the retail shop so that she could make more income. She is such a 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