Nkobazambogo Development Group, Lugazi
Daudi has had a grocery business in Ngogwe for two years, from which he makes 120,000 UGX as weekly profit. Before he had this business, he was just a farmer. With the help of a loan, Daudi has learned to take his produce to the market. He also buys from other farmers when his stock is not sufficient. He ensures that his produce is of good quality and mostly deals in fruit and vegetables. He hopes to expand his customer base depending on what he has for sale.
For the future, Daudi has a plan of buying a plot of land in the trading center in the hope that he can make it a commercial success once he has the funds to do so. He is requesting a loan to buy more produce for resale.
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