Jesca is a business lady involved in the sale of agricultural produce. She has done this for 5 years now. Although she is able to make 100,000 a week, she is faced with significant challenges, such as competition from other farmers and the scarcity of produce (especially during some seasons). Jesca is grateful to those who have lent money to her, as the money has that enabled to buy more high quality produce. Jesca dreams of eventually having a wholesale shop and building houses for her children. Currently, however, she needs a loan to be able to recapitalize her business by buying more agricultural produce for resale.
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