K. Margaret is a business lady with many businesses that she runs with the help of her children and other employed workers. Margaret is a widow. She has rental income bringing in a monthly fee. She has a hardware shop selling building materials. She makes pancakes for sale every day from her home as well as making juice from yellow bananas that she sells in jerry cans in Bakuli, Kampala. She decided to join all these businesses because she always wanted the best for herself and her family, especially after the death of her husband. Margaret is a hardworking and devoted lady.
Margaret is the leader of her lending group. She is one of the founding members of the group. She is grateful that she has been able to educate her children using proceeds from her businesses and, currently, she still has two children in school. Margaret needs a loan to help recapitalize her businesses, especially the hardware shop. She will buy ingredients for making the pancakes as well as more bananas for making the juice.
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