Basajja Mivule Group, Mukono
On the face of it, Henry is an ambitious man. He is a 35-year-old married man with two children aged 8 and 6 years who both go to school. He sells charcoal as a business and his operating area is in Kazinga in Mukono district.
Henry has been operating this business for the last two years and reckons that since he began he probably makes a paltry 35,000 shillings per week. Henry is also an employee of Azam factories that make baking flour, hence earning a monthly salary.
Despite this, Henry has big plans to expand into a more lucrative business. For that reason, he says he needs a loan to be able to push through his plans by buying more sacks of charcoal to sell. In this business, he is mostly helped by his wife.
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