N. Nuluyat is a hardworking, friendly, and devoted woman. She is 41 years old and married with five children between the ages of 7 and 20. All of her children are still in school. Nuluyat has a retail shop that she has been running from Kirinya in Mukono for 10 years. She is able to make 50,000 UGX in weekly profits, and this helps her to expand her shop and to increase her capital base. She has a dream of expanding her shop further to ensure that she makes more profit to use for her children's education and general upkeep. Nuluyat needs a loan to be able to stock her retail shop with more goods in order to bring in more profit.
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.