Gayduo’s business is food preparation. She buys foodstuffs which she cooks and sells to residents in Ziggida town. She has been running this business for two years, hoping to expand her business into a restaurant. Gayduo’s cooked food is delicious and affordable, which encourages her customers to continue buying from her.
She started her business with a little money from her husband, but because of family responsibilities, Gayduo has been facing some financial constraints. Gayduo needs this loan in order to purchase more foodstuffs so she can cook more food for customers and improve business.
Because Ziggida town has a high rate of poverty, most residents can’t afford to cook their own food. They prefer buying prepared food to eat because it is cheap and is sold by the plate. Gayduo dreams of educating her children and improving their living conditions.
Note on LEAP:During routine partner monitoring, Kiva learned that LEAP's delinquency data may be understated due to technical problems with their reporting software. Because this report is key to our analysis of the risk of this partner, delinquency or default rates on loans to this partner may be higher than we expect. For further details, see LEAP’s partner page on Kiva.
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