Benon M. is 43 years old and is the leader of his group in Bushenyi. He is married with four children whose ages range from 17 years old to 4 years old. Mr. M. has been running a cattle business for six years. His strategy has been to buy undernourished looking cows at low costs and then to feed them hearty diets and provide them with proper care, so that they then may regain full health and be sold at higher prices. Benon would like to use the loan to buy more medicine for his cattle, so he may further improve their health. He believes that his productivity and hard working nature will give him an edge against competitors and allow him to eventually scale his business so that he may begin selling his cattle in large quantities at local town centers. Benon hopes that his business will continue to expand so that he may better provide for his family.
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.