Mirembe Kikooza Group, Mukono
Annet sells beer, soda, wine and other brews and she hopes to expand her business further to be able to make more profits that will enable her build her own house as well as continue educating her children. Annet needs a loan to be able to restock her bar with more crates of beer, soda, mineral water and wines.
(N. Annet is pictured in the small inset photo. She is also in the group photo, but she cannot be clearly seen. A few members of the group are not pictured.)
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