Wokulira Development Group, Mukono
Annet prepares breakfast, lunch and supper for her customers in Nabuti. She is able to make 75,000/= as weekly income and she says that this would be more except that at times the food prices are hiked due to external factors.
Annet needs to expand her business further by being able to prepare a variety of foodstuffs as well as building a comfortable home. She needs a loan to be able to buy more foodstuffs for her restaurant.
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