Betty is a businesswoman who has had a poultry farm business for seven years. She is able to make 300,000/= as profits a month and this helps her in saving and educating her children to the higher levels. Her biggest challenge in her business is being seasonal. There are sometimes few sales and hence, less profits.
Betty is a hardworking and self-driven lady and she needs a loan to help buy more feed for her poultry farm as well as to order more day-old chicks for farm expansion.
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