Busaana Development Group, Lugazi
Although he was a security guard before the transformation, John has been in the fishing business since 2003 and employs three people with whom he shares the day’s catch. From his business, he is able to make 100,000/= in a good week but at times this reduces to 50,000/= during off seasons.
John would like to expand and start poultry farming, especially broilers, in addition to his business and he has already set up the shelter for them. This loan will help him with buying the day-old chicks.
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