Ishongororo Twekundire Group, Ibanda
Loy is married with six children, all of whom dropped out of secondary school, and she takes care of four dependants, including paying their school fees. She hopes to have her dependants attain the best education--more than what her own children have. She needs a loan to help expand her business by buying more farm inputs for better production.
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