Kyaterekera Group, Lugazi
Jesca has operated a business selling secondhand clothes from Jinja for four years. Although she is able to make 50,000/= as profits a week, she is faced with a scarcity of good products for sale. She needs a loan to help buy more clothes for a steady supply.
Jesca is grateful for her loans because they help her have enough stock yet of good quality. She hopes to become a wholesale supplier of bales of clothes so that she could earn more from increased sales.
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