Rutendere Group B, Kihihi
Mourice is a businesswoman who has been involved in trading used clothes from Butogota trading centre for four years now. She is able to make 50,000/= as weekly profits although she is faced with a challenge of inadequate capital hence little stock. She says that she has been able to attract her customers because of the quality clothes in her stock and she would like her business to expand so that she could begin advertising on radio stations in her area.
Mourice’s dream is to have a bigger and permanent house for her family. She needs a loan to be able to buy more used clothing for her stock.
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