Bwanda Bakyara Group, Rukungiri
Lydia sells produce from Rusheshe. She started a very small business 10 years ago, but her business has now grown and she is able to make 60,000/= (Ugandan shillings) in profit each week. She says that she is successful because the loans from Pearl Microfinance have helped her to increase her capital base. She would like to have a large inventory and she hopes to educate her children to the highest levels.
Lydia needs a loan to purchase more produce This gives her more stock to satisfy her customer’s needs, and therefore, more sales. She is such a hard-working lady.
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