Balyesiima Group, Mpigi
Ssaka is a multi-business man who is a farmer, he buys and sells coffee, he owns ginger and banana plantations, he buys and sells cows for meat, he has taxis for a transportation system, and he has rental houses as well as a retail shop.
He is so proud to mention that he is able to do all that he does because he has been using loans from the Kiva field partner, Pearl Microfinance, for over thirteen years. The loans have also helped him to pay school fees for his children. He has also taught his children about running a business, and two of them now go to Dubai for merchandise.
Ssaka needs a loan to help with repairing his car by buying an engine.
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