Kamuli A Group, Lugazi
In a week, Moses reportedly makes 100,000 shillings out of his ten-year-old enterprise. With the loan he plans to purchase supplementary produce and to educate his kids even further. He sells beans, maize, coffee and millet to retail shop owners and employs one person in his business.
At first, Moses was employed by someone else in the same business, from which he got experience to do his own business. Moses is a polite, respectable man and a leader. His dream is to see all his children attend the best education.
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