Betty has a retail shop on the Lugazi market street and although there is a lot of competition from other sellers, she is able to make 50,000/= (shillings) as weekly profits that help her sustain her family, with the help of her husband.
Betty is so grateful for her loans because they enable her to have increased stock as well as having quality products for sale. She sells carpets and bags in her shop plus belts and she would need a loan to be able to restock her shop.
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