Rebecca is the leader of her lending group in Mukono. She works very hard to ensure that she pays her children’s school fees on time and provides the basic necessities. She has a dream of building her own house as well as educating her children to university level so that they can find better jobs. She needs a loan to help buy space for stone quarrying so that she can increase her income.
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