Kashasha Farmers Tukore Group, Ibanda
Felex has been a mechanic in the Omukashasha trading centre for 20 years, and one of his strong points is being faithful to his clients. He repairs cars and motorcycles, and he needs a loan to be able to buy more spare parts for both motorcycles and cars. He would also like to have a section for bicycle repairs. He operates from a garage, and he wants to expand his business in the future so that he will be able to educate his children as some of them join him in his business.
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