Ghokale Women's Group, Jinja
Monica has operated a business buying and selling goats and cows from Ivunamba village for six years from which she is able to make 100,000/= as weekly profits. Her biggest challenge is the scarcity of animals, hence making them expensive for her customers to buy from her.
Monica’s hard work, and ensuring that she has the necessary stock, attracts her customers and her dream is to ensure that she is able to supply the whole of Jinja town as well as educate her children to the university level. Monic needs a loan to be able to buy more goats for resale and this will increase her capital base.
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