Bakuseka Maggya Group Of Kampala
Hadijah reveals that, in a month, she makes profits amounting to 100,000 shillings, and it’s with this that she has been able to educate her six children.
Hadijah has faced problems in her business such as the high costs involved in transporting produce to her workplace. On the basis of this, she wants to be empowered by this loan to be able to expand into a wholesale business. A wholesale produce business, she says, involves less transportation costs as, for the most part, farmers bring in deliveries fewer times in a given period.
With the loan, Hadijah plans the construction of a much bigger food stall for herself and she also wants to foot the costs of increased fruits and vegetable supplies to her workplace.
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