Bakkiliza Development Group, Mukono
At her young age, Fatumah, by conventional standards, should still be in school. However, she decided to go against the societal grain. As such, she took root in a hair salon business almost two years ago in Kireka, Mukono district.
Being single has, in a way, played into Fatumah’s hands, in that she has had no major responsibility to bear so far and, as such, she has built on her business experience. In the course of time, she has given her business the quality time and devotion it needs.
Since the inception of her business, Fatumah has managed to steadily sustain her finances. On a monthly basis, her financial gains amount to 140,000 shillings. She credits her suave business skills as one factor which has kept her above the competition.
Notwithstanding her successes, Fatumah envisages an even brighter future for herself if she can obtain a loan to sustainably expand her business.
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