B. Matiya is the leader of his group in Ibanda. He is 36 years old and married with six children who are all in school. He has a retail shop in Omububaare trading centre that has been in operation for fifteen years. At the moment, Matiya is able to make approximately $43 in profits a week, and this enables him to take care of his family. He is a friendly man and determined, and this has enabled him to win more customers. In the future, he would like to turn his shop into a wholesale business, and also to have a happy and educated family. Matiya is seeking a loan to enable him to add more stock in his shop so that he can boost his business further.
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.