Wakiso Group, Lugazi
Rebecca has had a retail shop in Wakiso trading centre for two years, and although there is a lot of competition from other shop owners, she is able to make 50,000/= in profits. She is grateful for her previous loan from Pearl, which enabled her have more inventory, in addition to her good customer care. She also hopes to educate her children to higher levels of education. She needs a loan to help add more capital to her business for a steady supply of products to her customers.
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