Trust Development Group, Mukono
Vincent is from Terere village. For the past six years, he has worked as a boda-boda (bicycle taxi) driver and a builder. His main business challenge is the scarcity of clients for both businesses, but despite this, he is able to make 70,000 UGX profits every week. He works very hard to ensure that he earns enough to pay school fees for his children so that they can have a better future. Vincent is requesting a loan to buy more equipment for his building business so that he can provide better services. He hopes to buy, among other things, a wheelbarrow and a ladder.
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