K. Ronald is the leader of his lending group in Lugazi. He is 23 years old and single with no children. He takes care of himself. Ronald has operated a cinema hall in Ngogwe trading centre for two and a half years and his major business challenges are the high power costs which are on and off, the high transport costs to get the CD’s, as well as the low population in the market. He is able to make 35,000/= a week profit and he hopes for this to increase. Ronald has a dream of owning his own premises so that he could save on rent since it is too much for the kind of business he does. He also hopes to have children and ensure that they all go to school and have better jobs than he has. He is seeking his first loan to help purchase a second television set that will help improve the view in the cinema.
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.