Proscovia is a businesswoman who has been selling first class clothes from a boutique in Lugazi central market for ten years. At the moment, she is able to make 350,000/= as profits a week. She is grateful for her loans because they help boost her business by enabling her to buy quality clothes for her inventory. She is working so hard to ensure that she becomes a wholesale supplier of clothes to other retailers, as well as be able to build rental houses for her children. Proscovia needs a loan to help buy more new clothes for resale from her boutique.
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