Rwobuziizi Group, Ibanda
Lawrence has operated a retail shop in Rwobuziizi for thirteen years, and he also has a taxi that operates from the same area. He works hand-in-hand with his wife and family in managing both businesses, and this has enabled them to succeed.
He hopes to expand his businesses further, especially the retail shop which still needs more stocking, since the shop's profits help to take care of the family's needs. Lawrence needs a loan to be able to expand his retail shop with additional goods.
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