Rwakirungura People's Association, Rukungiri Group
Kenneth has been in the banana plantation business for the last eighteen years and attributes his longevity in the business to his good human relationship skills. He calculates that his business generates cash to the tune of 40,000 UGX per week and his business objective from the onset has always been to modernize his banana plantation so as to get more substantial value from it.
By his own account, one of the major challenges he has to grapple with is the unpredictable and adverse weather conditions which constantly destroy crops in that part of the country.
Kenneth hopes to educate all his children up to university level once he is able to elevate his business venture in the course of time. He envisages he will be able to buy more manure, pay his laborers on time and buy more farm equipment with this loan.
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