Runyerere Bakyara Tukwatanise Group, Kihihi
She has a business selling old clothing from Runyerere trading centre from which she is able to make 17,500 Ugandan Shillings as profit every week. She says that her biggest expense is her children’s school fees. She hopes to expand her business further by having a bigger stock of clothing so that she could save more. She knows how to handle her customers well and she needs a loan to be able to buy more used clothing for resale so that her business expands.
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