Lweza Intergrated Group, Kampala
This is Nulu’s first time to seek for a loan from Kiva field partner Pearl Microfinance. She hopes to expand her shop, and in future to turn it into a wholesale shop. She also hopes to have a reputable and educated family so that they all become self reliant. She needs this loan to help with increasing stock at her shop, and hopes it will result in increased profits.
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