Elly has a butcher shop in Kizinda town where he has been selling fresh meat for twenty years. He is grateful that, at the moment, he is able to make about $215 in profits each month. Elly says that he started as a helper for four years in his father’s butcher shop, and later started up his own, where he was buying meat in kilograms. He is happy that now he buys the whole animals for meat.
He has been successful because of the quality meat that he sells, as well as having good customer care. Elly says that there is a lot of competition in his business, but he believes this is no threat because of his good service.
He needs a loan to help buy a cow for meat.
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