Betty is a business lady who sells agricultural produce. Although her business faces a lot of competition from other people in the same business, over the years, she has been able to use her loans constructively. As a result, she has quality produce to sell and more income. In the future, she hopes to become a wholesaler and build rental houses.
Betty needs a loan to buy more produce to sell.
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