Ngango 1 Women's Group, Ibanda
For the last six years, David has been selling agricultural produce. He operates his business at Igorora trading centre in Ibanda and he anticipates his business brings him close to 50,000 shillings a week.
One of the major challenges David has faced is competition from other traders although his strong points, like good customer care skills, enable him to succeed.
David needs a loan as he plans on expanding his business by buying more produce and thereby lifting his family out of the poverty trap.
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