Butogota Group E, Kihihi
Hope has operated a bar and lodge in Butogota Upper for five years and, this being a rural area, she is able to make 150,000/- as monthly profits. Her other sources of income include the sale of tea since she has a tea farm as well as buying from other farmers and supplying the tea factory in her area.
However, Hope needs a loan to be able to buy more bedsheets and beers together with other drinks for her business so that it can prosper. Before her current business, she was a business lady selling produce but she says that her current business gives her more freedom and leaves her with more ample time for farming as her side income.
Hope’s dream is to expand her business and develop her family.
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