Kitoola Group, Lugazi
Ritah is married with three children aged 8 to 2 years and she also takes care of her parents. She would like to build a residential house for her children so that they can enjoy more comfort.
Ritah needs a loan to help buy more baking flour, sugar, yeast, and other items for her business. In future, she would also like to have a boutique which will bring in more income.
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